Abacus Capital Lands $111M Refi for Connecticut Community
The property traded in March for $158 million.
Abacus Capital Group has secured a $111.4 million refinancing loan for Abbey Lane Apartments, a 470-unit multifamily community in Danbury, Conn. Newmark arranged the financing, provided by Fannie Mae.
The property includes five seven-story buildings with one-, two- and three-bedroom floorplans. The property was built in two phases in 2012 and 2014, according to Yardi Matrix. Berkley Properties previously purchased the development in 2019 for $124 million, the same source shows. Abacus acquired Abbey Lane last month for $158 million, the Hartford Business Journal reported.
Individual residences include in-unit laundry, hardwood floors and stainless-steel appliances. Some units include private balconies or patios. Community amenities include a pool, coworking and Wi-Fi lounges, a fitness center as well as a children’s playroom. As of March 2026, the community was 94 percent occupied, Yardi Matrix shows.
The property is situated on a 546-acre nature reserve in Danbury, with direct access to Interstate 84 and Route 7. Located at 15 Abbey Lane, the community is near Danbury Fair Mall and Western Connecticut State University. Metro-North service to New York City is available from the Danbury and Brewster, N.Y., stations, approximately 6 and 6.5 miles from the property, respectively.
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For this refinancing, the Newmark team included Vice Chairman Rob Cantizano, Managing Director Greg Primiano and Vice President Deric Obeldobel.
Last October, Prospect Capital Corp.’s REIT sold Crown Point Apartments, also in Danbury, to FPA Multifamily. The buyer acquired the 466-unit asset for $151.8 million, marking the largest single-asset multifamily sale in Connecticut at the time.
Recent Fannie Mae deals
After the U.S. Federal Housing Finance Agency raised lending caps for Fannie Mae and Freddie Mac to $88 billion, the agencies have continued to provide liquidity for multifamily acquisitions and refinancings. Last month, Decron Properties received an $82.9 million refinancing loan from Fannie Mae for River Ranch Apartments in Simi Valley, Calif. The five-year loan will retire existing bank debt on the property, including a $75 million loan from Signature Bank originated in 2022.
On the acquisition front, Fannie Mae provided a $53.4 million loan to TerraCap Management in March 2026 for the purchase of Tresa at Arrowhead Apartments, a 360-unit community in Glendale, Ariz. Hamilton Zanze & Co. sold the asset for $82.2 million.
