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A-Rod, Stonehenge Partner to Buy NYC Apts.
A-Rod Corp, an investment firm led by former Yankee star Alex Rodriguez, has partnered with Modlin Group and Stonehenge NYC on a multifamily venture. The new venture will partner with private and institutional investors to acquire residential apartment buildings in New York City.
“Real estate has been the cornerstone of A-Rod Corp’s investment strategy over the past 20-plus years,” said Rodriguez. “I founded Monument Capital Management, a real estate firm that invests in multifamily assets, specifically workforce housing, across the U.S. through our funds and strategic joint ventures.”
Rodriguez said he has always aimed at owning New York rentals, “which has been outside of Monument’s strategy.” However, in Stonehenge NYC CEO Ofer Yardeni (at right), he found “the perfect partner.”
Stonehenge will originate, underwrite and qualify investment opportunities and raise capital. Modlin Group will be involved in elaborating strategic plans, to ensure that building design and layouts cater to tenants’ evolving needs.
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