PLAINVIEW, NY-Locally based Eagle Rock Management has acquired the five-property, 1,666-unit Fairhaven Garden Apartments portfolio for $229.7 million. It’s one of the biggest multifamily deals in Long Island history, and Select Investment Realty Advisors’ John Thomas tells it provides evidence that investment sales on the island are picking up again.

“It’s not like three or four years ago, but it’s not like last year, either,” Thomas says of the current climate. “Even though the lending environment was pretty tight last year, we were still able to get transactions completed, some with new financing and some with existing financing and loan assumptions. This year, the environment is much better from the viewpoint of lending.”

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