Arch Companies expands into the Greater Tri-State Area via a new multifamily acquisition in Waterbury, Connecticut

NEW YORK, NY— September 17, 2018—Arch Companies (“Arch”) is pleased to announce that it has expanded its portfolio via the acquisition of a majority interest in Savings Street Tower, a 11-story, 109-unit multifamily property located at 45 Savings Street, Waterbury, Connecticut.  Savings Street Tower marks Arch Companies’ first acquisition in the greater Tri-State Area outside of New York City.

Located in New Haven County, Waterbury is the fifth largest city in Connecticut with a population of over 110,000. The city is directly accessible to major employment hubs such as Hartford, Connecticut, 33 miles away, and New York City, 77 miles away, which is easily accessible via Metro-North Railroad service. Waterbury is also home to numerous universities, community colleges and technical institutes including Post University and the Waterbury Campus of the University of Connecticut. In addition, the Property is located just one block from Waterbury’s downtown and central business district that is undergoing a dynamic revitalization supported by a $14 million federal TIGER Grant and Waterbury NEXT, an approximately $20 million public-private investment.

“As we seek to expand our presence in the greater Tri-State Area, Savings Street Tower offered an opportunity to grow our value-add multifamily portfolio and benefit from the strong economic momentum of the larger New York metropolitan area,” said Arch Companies’ Partner Jared Chassen. “We are actively seeking other compelling multifamily opportunities in the area.”

About Arch Companies

Arch Companies specializes in real estate investment, development, construction and asset management across the United States with a concentration on primary and secondary markets. that have strong growth outlooks. The partners of Arch, Jeff Simpson and Jared Chassen, have over 35 years of experience investing in and managing institutional real estate, with a focus on multi-family assets across New York, Miami and California.

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