May 22, 2018 Comments Off on Lowe Enterprises Investors Acquires Connecticut Apartment Community Views: 3912 Connecticut, National News, Northeast

Lowe Enterprises Investors Acquires Connecticut Apartment Community

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Lowe Enterprises Investors acquired the 374-unit 1 Kennedy Flats apartment community located at 1 Kennedy Ave. in Danbury, CT for an undisclosed amount. Greystar, which developed the project, was the seller, and will remain as the property manager.

The community consists of five mid-rise (three-and four-story) buildings, offering a mix of studio, one, two and three-bedroom units along with 13 townhomes with attached garages.

Completed in 2016, 1 Kennedy Flats was the first Class A apartment development in downtown Danbury, and is 91% occupied. It was built in three phases by Greystar, along with joint-venture partner Eagle Realty.

Lowe’s in-house acquisition team was led by Andy Sands and John Gaghan. The seller was represented by CBRE. Berkadia arranged financing for the transaction.

Read more at Business Wire

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