Globest Sectors

Ascentris and Harbor Associates sold the 110,000-square-foot property after completing a renovation and bringing the property to 98% occupancy.

The investor purchased the 480-unit class-A building in partnership with Azure Partners with a $173 million floating-rate loan.

The company has purchased the facilities, which span 1.3 million net rentable square feet, from Extra Space Storage.

The 320-unit apartment community is a component of a ground-up, mixed-use development located at 85 Jay St. in DUMBO.

The full-service real estate advisory firm now serves as one of the largest privately-held multifamily brokerage firms in the U.S.

"Be sure to learn from and develop strong mentoring relationships with those around you. In the end, you are only as good as the team you are working on and with," says Bonnie Neuman of Cadwalader, Wickersham & Taft.

These cities are projected to post annualized growth in gross income ranging between 6 and 7.6%, with vacancies hovering in neighborhoods of between 3.3% and 4.6%.

Owners and developers will need to make significant changes to their properties.