MC Real Estate, Tokyo Trust Partner on Westchester Apartments
MC Real Estate Partners LLC (MCRE) and Tokyo Trust Capital (TTC) completed the acquisition of The View on Nob Hill Apartments, a 416-unit apartment complex in Elmsford, NY, through an off-market transaction on behalf of a large Japanese financial institution. MCRE and TTC expect that this is the first of a series of investments in the multifamily segment tailored to their Japanese capital relationships.
The apartment complex, situated on 24 acres overlooking the Saw Mill River Parkway, was acquired from an Ares Management investment fund. It’s currently 97% leased.
This transaction is the third collaboration between MCRE and TTC, and their first multifamily deal together. “Ares has done a terrific job restoring the property to its proper place as an important, mid-market option in Westchester,” said Andy Nathan, managing principle of MCRE. “We look forward to building upon their efforts to provide solid and attractive housing for the residents.
- ◦Sale/Acquisition
