Photos courtesy of CBRE

The owner of a pair of affordable housing buildings, one in Danbury and the other in Norwalk, sold the two assets this week for nearly $40 million.

Boston-based real estate investment firm First Atlantic bought the 116-unit Kimberly Place at 19-27 Main St. in Danbury in 2004 for $6.68 million, city records show.

it bought the 53-unit One Leonard apartments at 1 Leonard St. in Norwalk for $2.12 million in 2022, city records show.

The seller was an affiliate of Heritage Housing Inc., which bought the two assets for $39.77 million.

A CBRE team of Simon Butler, Biria St. John, Jeff Dunne, Eric Apfel, Tim Flint, and Taylor Froland represented the seller and procured the buyer.

Both properties are set aside for senior residents ages 62 and up, and benefit from Section 8 HAP contracts covering all but two units, CBRE said. Amenities at the buildings include a resident lounge, fitness center, library and outdoor terrace at Kimberly Place, while One Leonard includes a community room and on-site laundry.

Heritage Housing intends to “invest significant capital to upgrade the living experience for the residents and preserve the affordability for years to come,” St. John said in a statement.