FPA Multifamily Acquires Crown Point Apartments In Danbury Connecticut For $151.8 Million

The property involved in the transaction is a multifamily asset located at 50 Saw Mill Road, Danbury, CT. The sale price for this property was $151,800,000, comprising a total of 466 units, resulting in a price per unit of $325,751.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $151,800,000
• Units: 466
• Price Per Unit: $325,751
• Buyer: Gregory A. Fowler - FPA Multifamily
• Seller: John Barry - Prospect Capital Corporation
• Brokers: Jeffrey Dunne, Eric Apfel, Stuart MacKenzie & Travis Langer - CBRE

This transaction represents a significant milestone in the Connecticut real estate market, being the largest single-asset multifamily deal of the year and the largest sale in Danbury's history. The involvement of FPA Multifamily indicates a strategic acquisition to enhance their portfolio within the multifamily sector.