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Jones Street Acquires Danbury Apartments from FPA

 JLL Capital Markets arranged the sale of ReNew Danbury, a 192-unit multifamily community in Danbury, CT. Senior managing directors Steve Simonelli, Jose Cruz and Michael Oliver, directors Elizabeth DeVesty, Ryan Roberston and Austin Pierce and associate Jeremy Weinstock worked on behalf of the seller, FPA Multifamily, LLC. The buyer was Jones Street Investment Partners, which acquired the property for an undisclosed sum.

Located at 10 Clapboard Ridge Rd., ReNew Danbury is situated near I-84 and SR-7. The garden-style community was built in 1971 and features studios, one-, two-and three-bedroom units averaging 988 square feet. Residents have access to community amenities such as a clubhouse with theatre, game room, coffee bar and fitness center as well as a pool with sundeck, playground and bike storage.

“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 Simonelli.

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JLL's Simonelli

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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