Photo courtesy of CBRE

A large apartment complex in Danbury, near the New York state line, fetched $151.75 million last month.

A deed recorded Oct. 23 shows the buyer was an LLC controlled by Irvine, California-based Trinity Property Consultants. However commercial brokerage CBRE, which represented the seller – a privately held New Jersey-based company and New York City-based Prospect Capital – said San Francisco-based investment firm FPA Multifamily was the buyer.

CBRE said its team of Jeffrey Dunne, Eric Apfel, Stuart MacKenzie, and Travis Langer also procured the buyer.

The 466-unit Crown Point Apartments complex sits on an 80-acre site at 50 Saw Mill Road bisected by the Saw Mill River. It appears to have been rebranded as Arrive Danbury by its new owners.

“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

The property is next to the the former Union Carbide headquarters, currently known as The Summit at Danbury after being redeveloped from offices to a wide mix of uses, including residential.

The project was built in two phases, completed in 2007 and 2011 respectively. Amenities include two clubhouses with fitness centers and swimming pools. CBRE characterized the property as a “value-add opportunity for the new owner” as the units are in need of renovations.

Editor’s Note: This story has been updated to correct the name of the seller and the names of the CBRE brokers involved in the transaction. A quote from Eric Apfel has also been added.