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| Halstead New Rochelle Metro North Apartments,New Rochelle, Westchester County, NY |
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| Jose Cruz |
FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced
today that it has represented The DSF Group in the $259.4 million sale of Halstead
New Rochelle Metro North, a 40-story, 588-unit, Class A apartment tower in
New Rochelle, Westchester County, New York.
The HFF team marketed the property exclusively on behalf of the seller,
The DSF Group (DSF), and procured the buyers, Azure Partners and Harbor Group
International, LLC.
Halstead New Rochelle Metro North was completed in 2007 and comprises a
mix of 95-percent-occupied, market-rate studio through three-bedroom units
averaging 956 square feet.
The transit-oriented
property, which has earned a Walk Score® of 97,
is situated along Huguenot Street adjacent to the New Rochelle Metro North
train station and is within walking distance to New Rochelle’s many shops and
restaurants.
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| Josh Solomon |
DSF purchased the
property in November 2013 and implemented an amenity renovation program,
including the delivery of a 40th floor, state-of-the-art sports
club, which includes cardio machines, free weights, weight machines, yoga
studio, spin room and lounge.
Additional amenities include a resort-style swimming pool,
resident lounge, landscaped courtyard, coffee bar, dog park, conference room,
business center, billiards room and nearly 6,000 square feet of on-site,
ground-floor retail.
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| Stephen Simonelli |
“The asset’s visibility and location in the market helped drive demand
from all buyer types, including domestic and offshore equity groups,” Cruz
stated. “Also, the ability to add value by renovating the units was a key
driver for the investor pool.”
“We are very pleased with the sale of Halstead New Rochelle,” stated
DSF President Josh Solomon. “This is another successful execution
of ourvalue-add strategy to acquire and reposition transit-oriented
multifamily properties in ring communities.”
With over $2.6 billion invested in
real estate since 2000, offices in Boston and Washington D.C. and decades of
deep-seated experience, The DSF Group strives to create unique, award-winning
properties.
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| Kevin O'Hearn |
From development and renovations through
construction and asset management, financing and design, The DSF Group is a
hands-on operator.
The steady
involvement of its principals drives the results of every project it invests
in.
Azure Partners LLC is a real estate private equity firm
based in New York City focused on the acquisition and management of real estate
assets within high-growth markets in the United States.
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| Michael Oliver |
Since its founding in 2010, Azure has purchased in excess
of $1.6 billion of assets, including more than 8,000 multifamily units and
700,000 square feet of retail.
Harbor Group International, LLC is a private real estate
investment and management firm, which controls a portfolio of worldwide assets
valued in excess of $7.8 billion.
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| J.B. Bruno |
The company’s real estate holdings include five million square feet of commercial properties and in excess of 30,000 apartment units.
CONTACTS:
JOSE CRUZ
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| Andrew Scandalios |
(973) 549-2000
ANDREW SCANDALIOS
NY Lic. #10331200140
HFF Senior Managing Director
(212) 632-1821
OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3403
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