Commercial real estate company Brookfield Property Partners LP paid $125.4 million to acquire a 157-unit rental tower in New York City's Financial District neighborhood, The Real Deal reported, citing unnamed sources.
The 30-story building at 15 Cliff St. reportedly is part of the Project Europa multistate portfolio that Brookfield is acquiring from San Francisco-based multifamily developer Carmel Partners in a single $1.9 billion transaction, the publication noted, citing Real Capital Analytics.
The portfolio comprises 3,870 units and also includes five properties in California and one in Hawaii. They are the Atelier, Alder and Eighth & Grand properties in Los Angeles; the Altana property in Glendale, Calif.; the Vintage property in Pleasanton, Calif.; and the 1,451-unit Kapilina waterfront apartment complex in Oahu, Hawaii.
Portfolio deal broker Eastdil Secured did not comment on the matter, and neither Brookfield nor Carmel representatives were immediately available to respond to comment requests, according to the publication.
