The new ownership plans to invest and additional $55 million to redevelop the 531-room property.
A hunt for scale and consolidation is driving an uptick in deal volumes.
TS Communities has partnered with Arker Companies to acquire and develop 10 of the 11 available sites at Edgemere Commons, a 2,050-unit affordable housing development in the Far Rockaways.
Sponsored by essensys
This multi-perspective research process discovered several disparities between what landlords offer in the flex space market and what tenants expect. Download now for key insights and what landlords could gain by meeting expectations.
Sponsored by Rhino
In order to reach the fastest-growing renter segments in the U.S. (Gen Z and Millennials), property owners need to stand out from the crowd with amenities that fit renter needs. This whitepaper explores the emerging trends that are attracting these renters, along with the amenities that will shape expectations for digital access, financial flexibility and convenience for years to come.
Sponsored by Rhino
Many Americans simply can’t afford upfront costs at move-in - a growing problem even before the pandemic. Discover how property owners are accelerating leasing by offering cash security deposit alternatives.
Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!
- Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
- Exclusive discounts on ALM and GlobeSt events.
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.
Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.