The CB Richard Ellis Tri-State Investment Team notes that itrepresented the Cappelli investment partnership in the deal. Thefirm also procured the buyer, an investment partnership advised byLend Lease Real Estate Investments.
CB Richard Ellis officials say that Cappelli Enterprisesretained a 10% interest in the rental townhouse community and willcontinue to manage and lease the property on behalf of the newpartnership. The sales price for the property was the largest saleof its kind in 2002 for Westchester County, they add.
Ridgeview Apartments is a 416-unit rental colonial-styletownhouse community that was built in 1995. It is located on a22-acre site at the top of a ridge adjacent to I-287, I-87, the SawMill River Parkway and Route 119.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
