JLL Capital Markets arranged the sale of ReNew Danbury, a 192-unit multifamily community in Danbury, CT. Senior managing directors Steve Simonelli, Jose Cruz and Michael Oliver, directors Elizabeth DeVesty, Ryan Roberston and Austin Pierce and associate Jeremy Weinstock worked on behalf of the seller, FPA Multifamily, LLC. The buyer was Jones Street Investment Partners, which acquired the property for an undisclosed sum.
Located at 10 Clapboard Ridge Rd., ReNew Danbury is situated near I-84 and SR-7. The garden-style community was built in 1971 and features studios, one-, two-and three-bedroom units averaging 988 square feet. Residents have access to community amenities such as a clubhouse with theatre, game room, coffee bar and fitness center as well as a pool with sundeck, playground and bike storage.
“ReNew Danbury represented an exceptional investment opportunity in one of Connecticut’s most dynamic submarkets, attracting strong interest from investors seeking well-positioned assets with value-add potential,” said Simonelli.
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