JLL Capital Markets announced that it has arranged the successful sale of ReNew Danbury, a 192-unit multifamily community in Danbury, Connecticut.
ReNew Danbury, located at 10 Clapboard Ridge Road, sits conveniently near I-84 and SR-7 in Danbury, Connecticut. Known as “Hat City” for its hat-making history, this Fairfield County community lies about 70 miles northeast of New York City near the state border. The city features the Danbury Fair Mall, one of New England’s largest shopping centers, and is home to major employers including Boehringer Ingelheim Pharmaceuticals, Western Connecticut Health Network and Praxair.
Built in 1971, the garden-style community of ReNew Danbury features studios, one-, two-and three-bedroom units at an average of 988-square-feet. Residents can enjoy community amenities like a clubhouse with theatre, game room, coffee bar and fitness center as well as a pool with sundeck, 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.
“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. “Danbury’s robust employment base, excellent transportation infrastructure, and proximity to New York City continue to drive demand for quality multifamily housing, making this transaction a win for both buyer and seller.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
