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Report: Equity Residential picks up $80M NY apartment asset

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Report: Equity Residential picks up $80M NY apartment asset

EquityResidential acquired the 120-unit Atelier Williamsburg in Brooklyn,N.Y., for roughly $80 million, The RealDeal reported April 1, citing unnamed sources.

The newly-built rental property at 239 North 9th St. comprisestwo linked brick buildings with about 68,000 square feet. Launched by FortisProperty Group and Joy Construction Corp. in late 2015, the apartment buildingis currently 95% leased. It offers a mix of studio, one- and two-bedroom units.

In February, the multifamily REIT reportedly sold theRiverTower in Manhattan for $390 million. The buyers were Slate Property Groupand GreenOak Real Estate. It also seeks to unload $300 million more in assetsby 2016-end.

The seller of the Brooklyn asset was represented by an HFFteam led by Rob Hinckley, Andrew Scandalios and Jeff Julien, according to thepublication.