NEW YORK CITY-The California Public Employees' Retirement System has purchased a total of 345 apartments at two properties on Riverside Boulevard and West 63rd St. from a partnership that includes the Carlyle Group for approximately $400 million.
The deal includes 136 units in the Aldyn on Riverside Boulevard and the 209-unit Ashley on West 63rd Street. HFF Inc., the broker on the sale, stated that Sacramento, CA-based Calpers made the purchase through GID Investment Advisers LLC, of Boston. GID is the pension's real estate manager for residential transactions, according to Bloomberg News.
The purchase price was about $400 million, according to a person with knowledge of the deal, Bloomberg News reports. The Calpers purchase is the most expensive deal on a per-unit basis for more than 100 units on the Upper West Side since the 2007 purchase of the Apthorp, according to data Real Capital Analytics Inc. See story at Bloomberg News.
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