Real Estate
Apartment Complex in Danbury Sold for Over $30 Million: Report
The Hillcroft at Danbury has 192 apartment units, 93 percent of which are currently occupied.
DANBURY, MA — An apartment complex with nearly 200 units was recently sold for $32.25 million, reports the News Times.
Timberline Real Estate Ventures, doing business as TREV CSG Danbury is the new owner of the Hillcroft at Danbury, which currently has 93 percent of its 192 apartment units filled. The News Times reports the sale brought in $241,875 for the state and $80,624 for the city in conveyance taxes.
Institutional Property Advisors represented both the buyer and the seller during the transaction. While TREV CSG Danbury is a part of Campus Evolution Villages which specializes in off-campus apartments for college students, the Hillcroft at Danbury will not specifically target college students and will remain a residential property, reports the News Times.
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The apartment community is located on Clapboard Ridge Road near the Ridgewood Country Club.
Read more from the News Times here.
Find out what's happening in Danburyfor free with the latest updates from Patch.
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