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Palladium Capital Advisors Raises $20,000,000 in Equity for 466-Unit $108.5M Multifamily Building in Danbury, CT

Sep. 5, 2018:

NEW YORK–Palladium Capital Advisors, LLC was responsible for the equity portion of the financing for the following transaction.

Danbury’s Crown Point Apartments, a 466-unit development, was sold for $108.5 million. CBRE represented the owner, an affiliate of Norfolk, Virginia-based Harbor Group International LLC, in the sale and also procured the buyer, who was not publicly identified.

Located at 50 Saw Mill Road, the property was built in two phases in 2007 and 2011. Amenities include two clubhouses, each with a fitness center and a swimming pool. CBRE stated that the property offered a “value-add opportunity” for the new owner because all of the apartments have original finishes that can be upgraded to generate additional rent premiums.