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Inland Real Estate Acquires Luxury LI Multifamily for $190M

JLL Capital Markets secured the $190-million sale of The Arboretum, a 292-unit luxury multifamily development in Farmingville, NY, within Suffolk County. Senior managing directors Jose Cruz, Steve Simonelli and Rob Hinckley, along with director Austin Pierce, represented the seller, BRP Companies.

The buyer was an affiliate of The Inland Real Estate Group of Companies, Inc. Matthew Tice, SVP of Inland Real Estate Acquisitions, LLC, facilitated the purchase on behalf of the Inland affiliate.

Located at 20 Maple Ln. and delivered in 2024, The Arboretum is a luxury 62-acre residential community offering contemporary living with 491,071 square feet of rentable space. It features a mix of single-family homes and garden-style apartments, with two- and three-bedroom units averaging 1,682 square feet.

JLL Capital Markets previously worked on behalf of a joint venture between BRP Companies and funds and accounts managed by BlackRock, to secure a $91m floating rate construction loan through Santander Bank.

Read More News Stories About: Inland, JLL
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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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