Jones Street Investment Partners Acquires ReNew Danbury Apartments
JLL Capital Markets has successfully arranged the sale of ReNew Danbury, a 192-unit multifamily community located in Danbury, Connecticut. The transaction was facilitated on behalf of the seller, FPA Multifamily, LLC. The team included Senior Managing Directors Steve Simonelli, Jose Cruz, and Michael Oliver, along with Directors Elizabeth DeVesty, Ryan Robertson, Austin Pierce, and Associate Jeremy Weinstock. The property was purchased by Jones Street Investment Partners for an undisclosed amount.
ReNew Danbury is situated at 10 Clapboard Ridge Road, conveniently located near Interstate 84 and State Route 7. Originally built in 1971, the garden-style community includes studio, one-, two-, and three-bedroom units, with an average unit size of 988 square feet.
Residents at ReNew Danbury enjoy a variety of on-site amenities, including a clubhouse with a theater, game room, coffee bar, and fitness center. Additional features include a pool with a sundeck, a playground, and bike storage facilities.
“ReNew Danbury represented an exceptional investment opportunity in one of Connecticut’s most dynamic submarkets, attracting strong interest from investors seeking well-positioned assets with value-add potential,” said Steve Simonelli of JLL Capital Markets.
