Sale of apartment community in Danbury, CT

MORRISTOWN, N.J., Jun. 27, 2025 – JLL Capital Markets announced today that it has arranged the successful sale of ReNew Danbury, a 192-unit Multihousing community in Danbury, Connecticut.

JLL worked on behalf of the seller, FPA Multifamily, LLC. The buyer was Jones Street Investment Partners.

ReNew Danbury, located at 10 Clapboard Ridge Rd., sits conveniently near I-84 and SR-7 in Danbury, Connecticut. Known as "Hat City" for its hat-making history, this Fairfield County community lies about 70 miles northeast of New York City near the state border. The city features the Danbury Fair Mall, one of New England's largest shopping centers, and is home to major employers including Boehringer Ingelheim Pharmaceuticals, Western Connecticut Health Network and Praxair.

Built in 1971, the garden-style community of ReNew Danbury features studios, one-, two-and three-bedroom units at an average of 988-square-feet. Residents can enjoy community amenities like a clubhouse with theatre, game room, coffee bar and fitness center as well as a pool with sundeck, playground and bike storage.

JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Senior Managing Directors Steve Simonelli, Jose Cruz and Michael Oliver and Directors Elizabeth DeVesty, Ryan Roberston and Austin Pierce and Associate Jeremy Weinstock.

"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. "Danbury's robust employment base, excellent transportation infrastructure, and proximity to New York City continue to drive demand for quality multifamily housing, making this transaction a win for both buyer and seller."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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FPA Multifamily, LLC is a real estate operating company focused on the acquisition, renovation and management of both core plus and workforce housing apartment communities. Founded in 1985, FPA has owned over 160,000 apartment units valued at over $25 billion. FPA is currently investing through its value-add focused FPA Apartment Opportunity Fund IX which will acquire over $5 billion of assets and its core-plus focused FPA Core Plus Fund VI which will acquire approximately $2 billion of assets. Headquartered in San Francisco, FPA also has offices in Atlanta, Chicago, Denver, Houston, Irvine and Washington DC. For more information, please visit www.fpamf.com.

Jones Street Investment Partners is a Boston-based real estate private equity sponsor focused on multifamily assets in the Northeast and Mid-Atlantic regions of the U.S. with an emphasis on long-term, cash-flowing investment strategies. The firm operates across risk profiles with an opportunistic and disciplined value-based approach, bringing over 60 years of combined investment expertise through its principals to deliver attractive risk-adjusted returns for its investors.