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Report: A&E Real Estate to pay $118.5M for NYC multifamily portfolio

A&E Real Estate Holding is buying a six-building multifamily property portfolio in Queens, New York City, for $118.5 million, The Real Deal (New York) reported, citing unnamed sources.

New Jersey-based investment company Treetop Development LLC and the Weinroth family are the sellers of the 428-apartment portfolio covering approximately 375,000 square feet, according to the May 25 report.

The publication's sources said A&E will carry out the acquisition through three separate transactions that are expected to close within the next two to three months.