NEW YORK CITY-Chicago-based Equity Residential is set to purchase the Beatrice, a 302-unit apartment complex in New York. Bloomberg News, citing an unnamed source familiar with the transaction, reported that the deal is expected to be closed this week.
The apartment tower is situated over the Eventi hotel in Manhattan's Chelsea neighborhood. Equity Residential is negotiating with JD Carlisle Development Corp., the property owner, to buy the apartment tower for $280 million. For the full story, go to Crain's Chicago Business .
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