Camber Partnership Adds Connecticut Affordable Housing
Camber Property Group and Honeycomb Real Estate Partners acquired Dobbs Crossing, an 84-apartment, 100% affordable housing development in Vernon, CT, for $11.5 million. This transaction is Camber’s second foray into Connecticut in recent years, following the acquisition of Oakland Heights Apartments in Manchester.
“In the midst of a national housing crisis, preserving existing affordable housing is just as critical as building new units,” said Rick Gropper, principal at Camber Property Group. “These projects are not just about real estate; they are about providing stability and opportunity for the residents who need it most. We look forward to building our presence in Connecticut and being a part of this community for many years to come.”
As part of the closing, Camber executed a new 20-year Housing Assistance Payments contract with HUD. Camber and Honeycomb will also undertake programmatic renovations across the site.
The project was acquired through bridge financing from Merchants.
From capital markets and financing trends to development, acquisitions, and property management strategies, Connect Apartments on September 11 in Los Angeles dives into the issues shaping today’s multifamily landscape. Join the experts leading conversations on affordability, innovation, market dynamics, and investment opportunities—all in one day, under one roof. If you want the latest insights that drive decisions in apartments, this is where you’ll find them: www.connectapts2025.com
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout