In the biggest-ticket real estate transaction in the city’s history, a Danbury apartment complex was acquired by San Francisco-based FPA Multifamily.
The 466-unit Crown Point Apartments are part of the master-planned Reserve in Danbury, a 546-acre neighborhood that was developed in two phases in 2007 and 2011.
The purchase price works out to over $325,000 per unit. The complex currently lists apartments renting from $2,285 to $3,300 per month, according to Apartments.com.
Residential buildings have elevator access to heated garages, and both phases include heated pools, lounges and separate play areas for dogs and children.
CBRE’s Jeffrey Dunne, Eric Apfel, Stuart MacKenzie and Travis Langer represented the seller, an undisclosed New Jersey company and Prospect Capital, and procured the buyer.
“This sale underscores the demand for high quality multifamily assets in Connecticut and demonstrates market liquidity for large transactions even in secondary markets,” Apfel said in a statement.






