Clarion and Taconic Pays $71M for Related Companies’ Portfolio

A partnership between Clarion Partners and Taconic Investment Partners paid $71 million for five apartment properties owned by Related Companies and the New York City pension funds, located in the Fordham, Belmont and Concourse neighborhoods of the Bronx.

The purchase is the first deal completed by Clarion and Taconic’s new Quality Communities, which plans to invest up to $400 million in the 368 rent-stabilized apartments.

“This venture will vastly improve the quality and supply of affordable housing in the city,” said Ty Barnes, vice president of acquisitions for Taconic. Prior to joining Taconic, Barnes worked as an acquisitions senior manager at Related Companies

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