Saturday, April 20, 2013

HFF closes sale of two Class A residential towers in Manhattan’s Upper West Side



The Aldyn, Upper West Side, Manhattan


NEW YORK, NY – HFF announced today that it has closed the sale of The Aldyn and The Ashley, two newly-developed, Class A residential towers totaling 345 rental units in Manhattan’s Upper West Side.


        The Ashley, Upper West Side, Manhattan
                HFF marketed the properties exclusively on behalf of the seller, a joint venture between a global investment management firm and The Carlyle Group.  GID purchased the offering for an undisclosed amount free and clear of existing debt.

Andrew
Scandalios
                The towers are located along Riverside Boulevard between 62nd and 63rd Streets in the River South neighborhood on the Upper West Side.  Completed in 2010, the towers include a mixture of studio, one-, two-, three- and four-bedroom units averaging 1,002 square feet each.

 In addition to its 136 rental units, the Aldyn includes 150 condominium units, which are not included in this transaction.

Jose Cruz
The two towers have a total of 11,959 square feet of retail space and feature amenities such as a 24-hour doorman, concierge services, resident lounges, landscaped interior courtyard with sun decks and a parking garage. 

The properties also include LA PALESTRA, a 40,000-square-foot athletic club and spa offering state-of-the-art fitness equipment, indoor pool, game room, bowling alley, rock climbing wall, basketball court, golf simulator, squash court and spa service rooms.
Jeffrey Julien
                 The HFF team representing the seller was led by senior managing directors Andrew Scandalios and Jose Cruz along with managing directors Jeff Julien and Kevin O’Hearn and executive managing director Matthew Lawton.

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $170 billion of assets under management across 113 funds and 67 fund of fund vehicles as of December 31, 2012. 

Kevin O'Hearn
Carlyle’s purpose is to invest wisely and create value.  Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. 

Carlyle has expertise in various industries including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, technology & business services, telecommunications & media and transportation.  The Carlyle Group employs 1,400 people in 33 offices across six continents.

Matthew Lawton
GID is a privately-held, globally diversified and fully-integrated real estate organization founded in 1960 that employs more than 650 real estate professionals in multiple offices throughout the United States.

 During its 52-year history the company has acquired or developed more than 54,000 residential units and in excess of 13 million square feet of commercial space. 

As of December 31, 2012, GID controls a real estate portfolio consisting of 94 properties located in 17 states, and totaling more than 35 million square feet comprised of more than 19,000 residential units (including 466,315 square feet of commercial and retail space) and more than 3.9 million square feet of commercial space.

 In addition, GID has more than 12 million square feet of fully entitled properties in its development pipeline.

 For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com

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