PHOENIX AND PAREDIM PURCHASE $27.65M APARTMENT COMMUNITY

DANBURY, CONN. — Phoenix Realty Group and Paredim Partners have acquired a 192-unit Hillcroft at Danbury for $27.65 million. Paredim’s upgrades are expected to be $1 million and will focus on landscaping, open spaces, apartment finishes, expansion of the fitness center and covered parking. These upgrades are scheduled to be completed in 12 to 18 months. Marcus & Millichap represented the seller, Fairfield Hillcroft, in the transaction.