KABR Group Acquires Two Apartment Communities in Stamford for $41.3M

STAMFORD, CONN. — New Jersey-based development and investment firm KABR Group has acquired The Verano and The Moderne, two apartment communities totaling 116 units in the southern coastal Connecticut city of Stamford, for $41.3 million. Both communities feature one-, two- and three-bedroom units with stainless steel appliances, granite countertops and individual washers and dryers. Amenities include fitness centers, theater rooms, lounges and rooftop decks. Steve Simonelli, Jose Cruz, Steve Rutman, Chris Hew, Michael Oliver, Kevin O’Hearn and Austin Pierce of JLL represented the seller, Navarino Capital Management LLC, in the transaction. KABR Group acquired the properties via a joint venture with an undisclosed private family office. Jared Kaufman of Greystone originated acquisition financing for the deal. The new ownership plans to implement value-add programs and rebrand the properties.