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Delshah Makes Second Williamsburg Foray in Three Months
Continuing a return to active investing and further growing its Williamsburg multifamily portfolio, Delshah Capital has acquired a pair of apartment properties for a total of $85.3 million. The acquisitions of 227 Grand St., and 456 Grand St. follow the April deal for 34 Berry St. in the same neighborhood.
JLL Capital Markets arranged $60.5 million acquisition financing on behalf of Delshah through Prospect Ridge Advisors. The JLL Debt Advisory team that arranged the financing included managing director Michael Zaremski and director Clayton Ross, which also arranged financing for the 34 Berry acquisition.
The portfolio comprises 93 residential units and approximately 22,700 square feet of retail space. It contains a blend of free-market, rent-stabilized and affordable units all built between 2009 and 2014.
Michael Bacon, head of capital markets & acquisitions at Delshah, said, “Williamsburg remains one of the most dynamic residential markets in the country, and these properties align perfectly with our long-term investment strategy.”
- ◦Sale/Acquisition
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