Third U.S. acquisition completed by MCRE and Tokyo Trust Capital kicks off their new multifamily investment strategy for cross-border capital
NEW YORK, June 9, 2022 /PRNewswire/ — MC Real Estate Partners LLC (MCRE) and Tokyo Trust Capital (TTC) announced the acquisition of The View on Nob Hill Apartments, a 416-unit apartment complex ideally located in southern Westchester County, NY through on off-market transaction on behalf of a large Japanese financial institution. With demand for stabilized investments in the US increasing, MCRE and TTC expect that this is the first of a series of investments in the multi-family segment tailored to their Japanese capital relationships.
The apartment complex, situated on 24 acres overlooking the Saw Mill River Parkway in Elmsford, N.Y., was acquired from an Ares Management investment fund. Currently 97% leased, The View on Nob Hill represents one of the best located apartment complexes in the county, with 20% of the apartments targeted for families earning 60% of the area’s median income. The property provides unparalleled access to the Saw Mill River and Sprain Brook Parkways, Interstate 287 and the New York Thruway, and is surrounded by a multitude of shopping and dining options. The White Plains and Tarrytown Metro North stations are each less than a ten-minute drive away. On-site property…
