New York-based Nelson Management Group, through its affiliate Global One Real Estate Fund, has partnered with The Vistria Group to recapitalize two affordable housing properties in the Bronx: Lafayette-Boynton Apartments and Promenade Apartments. This partnership was supported by financing from Freddie Mac and KeyBank.
Nelson Management will continue managing the 1,290 units across both complexes while preserving long-term affordability for residents and maintaining high quality standards of the properties. Lafayette-Boynton consists of four 19 story towers with 972 units while Promenade is a 19 story apartment tower with 318 units located in Marble Hill/Riverdale neighborhood. Nelson Management is known for implementing advanced amenities as well as property management tools into their portfolio.
The post Global One Real Estate Fund Recapitalizes Affordable Housing in Bronx, NY appeared first on CRE MarketBeat.
