Wilton, CT AMS Acquisitions and Avenue Realty Capital have completed the joint-venture acquisition of 131 Danbury Rd. with plans to develop a 208-unit multifamily apartment complex. The project was financed with a $71 million construction loan from Madison Realty Capital, which was arranged by Arrow Real Estate Advisors. “131 Danbury Rd. addresses a clear need for high-quality rental housing in a supply-constrained, high-barrier-to-entry market with strong underlying fundamentals” said Udi Kore of Avenue Realty Capital. “We are happy to partner with AMS on this project, which is a great example of the kind of thoughtful, high-conviction investment we focus on while elevating the communities we operate in.”

The development is located along Rte. 7, providing access to restaurants, shops, and the Wilton and Norwalk train stations, both of which provide direct access to Manhattan. Upon completion, the property will consist of a 205,000 s/f mid-rise residential building that includes a mix of one-, two-, and three-bedroom units with a range of loft and den configurations. The development will also feature a connected, two-story clubhouse that will house amenities such as a gym, coworking space, music room, and private office space, in addition to the property amenities which include outdoor kitchens, grilling stations, and a pool that will be situated in the center of the site.