HFF, Inc. : HFF closes sale of two Class A residential towers in Manhattan's
Upper West Side
NEW YORK, NY,April 18, 2013- HFF announced today that it has closed the sale
of The Aldyn and The Ashley, two newly-developed, Class A residential towers
totaling 345 rental units in Manhattan's Upper West Side.
HFF marketed the properties exclusively on behalf of the seller, a joint
venture between a global investment management firm and The Carlyle Group.
GID purchased the offering for an undisclosed amount free and clear of
The towers are located along Riverside Boulevard between 62nd and 63rd Streets
in the River South neighborhood on the Upper West Side. Completed in 2010,
the towers include a mixture of studio, one-, two-, three- and four-bedroom
units averaging 1,002 square feet each. In addition to its 136 rental units,
the Aldyn includes 150 condominium units, which are not included in this
transaction. The two towers have a total of 11,959 square feet of retail space
and feature amenities such as a 24-hour doorman, concierge services, resident
lounges, landscaped interior courtyard with sun decks and a parking garage.
The properties also include LA PALESTRA, a 40,000-square-foot athletic club
and spa offering state-of-the-art fitness equipment, indoor pool, game room,
bowling alley, rock climbing wall, basketball court, golf simulator, squash
court and spa service rooms.
The HFF team representing the seller was led by senior managing directors
Andrew Scandalios and Jose Cruz along with managing directors Jeff Julien and
Kevin O'Hearn and executive managing director Matthew Lawton.
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $170
billion of assets under management across 113 funds and 67 fund of fund
vehicles as of December 31, 2012. Carlyle's purpose is to invest wisely and
create value. Carlyle invests across four segments - Corporate Private
Equity, Real Assets, Global Market Strategies and Solutions - in Africa, Asia,
Australia, Europe, the Middle East, North America and South America. Carlyle
has expertise in various industries including: aerospace, defense & government
services, consumer & retail, energy, financial services, healthcare,
industrial, technology & business services, telecommunications & media and
transportation. The Carlyle Group employs 1,400 people in 33 offices across
GID is a privately-held, globally diversified and fully-integrated real estate
organization founded in 1960 that employs more than 650 real estate
professionals in multiple offices throughout the United States. During its
52-year history the company has acquired or developed more than 54,000
residential units and in excess of 13 million square feet of commercial
space. As of December 31, 2012, GID controls a real estate portfolio
consisting of 94 properties located in 17 states, and totaling more than 35
million square feet comprised of more than 19,000 residential units (including
466,315 square feet of commercial and retail space) and more than 3.9 million
square feet of commercial space. In addition, GID has more than 12 million
square feet of fully entitled properties in its development pipeline.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned
by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a
leading provider of commercial real estate and capital markets services to the
U.S. commercial real estate industry. HFF together with its affiliate HFFS
offer clients a fully integrated national capital markets platform including
debt placement, investment sales, equity placement, advisory services, loan
sales, and commercial loan servicing. www.hfflp.com.
HFF Senior Managing Director
HFF Associate Director, Marketing
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information contained therein.
Source: HFF, Inc. via Thomson Reuters ONE
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