Blackstone/Fairstead JV Acquires New York City Residential Portfolio
09.14.15
This is only gets display when printing
The Firm represented a joint venture between Blackstone Real Estate Partners VIII and Fairstead Capital LLC in connection with its acquisition of 24 residential buildings in New York City from affiliates of B&L Management, LLC for a total purchase price of $690 million. The portfolio comprises an aggregate of approximately 979 multifamily and commercial units. The transaction closed on September 10, 2015.
The Simpson Thacher team included Scott Kobak, Frank Mangiatordi and Leanne Welds (Real Estate); Nancy Mehlman and Jordan Tamchin (Tax); Adeeb Fadil and Louise Kruger (Environmental); and Greg Grogan, Jeanne Annarumma and Alisa Tschorke (Executive Compensation and Employee Benefits).