**Camber Property Group and Honeycomb Real Estate Partners Acquire Dobbs Crossing for $11.5 Million**
Camber Property Group, in partnership with Honeycomb Real Estate Partners, has acquired Dobbs Crossing, an 84-unit affordable housing development in Vernon, Connecticut, for $11.5 million. This marks Camber’s second acquisition in Connecticut in recent years, following their previous purchase of Oakland Heights Apartments in nearby Manchester.
“In the midst of a national housing crisis, preserving existing affordable housing is just as critical as building new units,” said Rick Gropper, Principal at Camber Property Group. “These projects are not just about real estate; they are about providing stability and opportunity for the residents who need it most. We look forward to building our presence in Connecticut and being a part of this community for many years to come.”
As part of the transaction, Camber executed a new 20-year Housing Assistance Payments contract with the U.S. Department of Housing and Urban Development (HUD). In addition, Camber and Honeycomb plan to implement a series of programmatic renovations throughout the property to enhance living conditions for residents.
The acquisition was supported through bridge financing provided by Merchants Bank.
