Chetrit acquires $200M stake in Black Spruce apartment portfolio
Share Josh Gotlib’s Black Spruce Management has struck a deal with Isaac Chetrit’s AB & Sons to recap half of his firm’s Manhattan multifamily portfolio. AB & Sons has paid $200 million for a 50 percent stake in the 1,800-unit portfolio of workforce-housing buildings that Black Spruce has accumulated over the past 12 years. The deal includes 950 units in buildings situated primarily in Hell’s Kitchen and Morningside Heights. Gotlib tapped Cushman & Wakefield rainmakers Adam Spies, Doug Harmon, Adam Doneger, Josh King, Marcella Fasulo, Avery Silverstein and Michael Collins earlier...
Source: rew-online.com