NEW YORK CITY-A Chicago-based real estate investment firm—Harrison Street Real Estate Capital, has acquired more than 60 Long Island University Brooklyn graduate apartments for more than $60 million.
City records indicate the transaction totaled $62.7 million, however, Brian Thompson, a senior vice president with Harrison Street, pegged the deal at 490 Fulton St. at $60.9 million, according to the Real Deal.
“This allows us to create a foothold in Brooklyn, and hopefully there are other opportunities similar to this out in the boroughs or upstate,” Thompson says. “One of our themes is to acquire education-related real estate … across the country, so this was just a logical opportunity for us.” The sale entered contract on Oct. 17 and transferred late last month. See story in The Real Deal.