NEW YORK CITY– Arch Companies, a national real estateinvestment management company, has acquired 550 Metropolitan Ave.,a six-story, and almost 10,000 square foot development inWilliamsburg, Brooklyn. The stalled development project is thefirm's fourth investment and restructure transaction sincelaunching in New York City two years ago.
"The acquisition of 550 Metropolitan plays to Arch's combinedstrengths to source and structure capital creatively for stalleddevelopment deals and deploy its in-house development andconstruction capabilities," said Jeffrey Simpson, managing partnerat the firm, in a prepared statement.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
