L+M Development Partners and Invesco have partnered to purchase a 2,800-unit portion of the Putnam portfolio from Brookfield Asset Management and Urban American for $1.2 billion. Ron Moelis’ L+M made the purchase through its workforce housing fund, a multi-investor development fund to target affordable development, according to the Wall Street Journal. “We think it’s a significant win for the City of New York and existing residents, and it happens to be completely aligned with the […]
source https://therealdeal.com/2019/07/30/lm-and-invesco-partner-to-buy-2800-market-rate-apartments/
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