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October 22, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

374-unit luxury apartment complex in Danbury sold to LA investment firm

The 374-unit luxury apartment complex at 1 Kennedy Flats in Danbury has been bought  for an undisclosed amount by Lowe Enterprises Investors,a real estate investment firm based in Los Angeles.

CBRE worked on behalf of the seller, Greystar, which will continue to manage the property. The buyer, which was self-represented in the deal, also received an acquisition financing that was secured by Berkadia, a Berkshire Hathaway and Leucadia National company.

The five-building community was constructed in 2016 and includes a mix of studio, one-, two- and three-bedroom units, as well as 13 townhouses with attached garages. The communal areas include a 3,000-square-foot resident lounge with fireplace, library, pool and pool table.