May 22, 2018
Connect Apartments is coming up on June 26th in Los Angeles. Here’s a link to find out more about the conference and register.
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.
For comments, questions or concerns, please contact Dennis Kaiser