DANBURY, CONN. — FPA Multifamily has sold ReNew Danbury to Jones Street Investment Partners for an undisclosed sum. JLL represented FPA in the transaction. ReNew Danbury is a 192-unit property developed in 1971 in Danbury, known as Hat City for its hat-making history. It is about 70 miles northeast of New York City.
The garden-style community features studios and one-, two- and three-bedroom units and amenities like a clubhouse with a theater, game room, coffee bar and fitness center as well as a pool, a playground and bike storage.
JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Senior Managing Directors Steve Simonelli, Jose Cruz and Michael Oliver and Directors Elizabeth DeVesty, Ryan Roberston and Austin Pierce and Associate Jeremy Weinstock.
FPA Multifamily has been a recent buyer as well as a seller in the state. The San Francisco-based investment firm recently acquired a four-property portfolio from Sun Equity Partners for $121 million. Those properties are in the cities of Bristol, Wallingford, Peppertree, Groton and Norwich.