Aerial view of The Axel (Photo: Business Wire)
NEW YORK, Oct. 15, 2024–(BUSINESS WIRE)–Alpaca Real Estate (“ARE”), an alternative investment management firm, announced today that the 29-story, 284-unit Class A Trophy, 97% leased The announced that it has increased the capital of Accel. Brooklyn residential real estate transactions total approximately $300 million.
Located next to Barclays Center at the intersection of three of Brooklyn’s most popular neighborhoods: Fort Greene, Clinton Hill, and Prospect Heights, Axel features skyline views and resort-style amenities, with 13 subway lines within blocks is. . Centrally located, the property has also attracted quality commercial tenants including Maimonides Hospital System with full-floor medical facilities, Chick-fil-A’s second Brooklyn location, and Hounds Town (pet care). Masu.
“We are excited to partner with Alpaca Real Estate on this great asset, which we have been involved with for over 10 years,” said Jeffrey Gershon of Hope Street Capital. “New York continues to experience strong housing demand and limited availability, making prime Brooklyn a particularly attractive location for thriving residential communities.The Axel is in a prime location that benefits from a vibrant neighborhood of restaurants and shops. However, it is also just a stone’s throw from Manhattan and stands to benefit from long-term trends that will drive overall growth in Brooklyn’s multifamily market.”
Daniel Kerr, Managing Partner at ARE, added: “On behalf of our investors, Alpaca is excited to continue investing in high-growth urban areas with the recapitalization of this premier project.” . “Alpaca’s thematic approach focuses on properties with strong tailwinds, such as this structured investment in a high-quality multifamily tower at the core of the gateway market. We are proud to partner with him in the future.”
Developed by Hope Street Capital and designed by Morris Adjmi Architects, The Axel offers studio, one-, two-, and three-bedroom homes with floor-to-ceiling windows, high-end finishes, premium appliances, and in-room laundry. This property is a combination of apartments. Dryer and spacious closet space.
Community facilities include a full floor club level with meeting rooms. Games lounge and terrace. Fitness center with terrace. A studio dedicated to yoga and Pilates. Dining and entertainment room with terrace. Golf and sports simulator. Saltwater pool with sundeck. Skypark designed by landscape architect MPFP. Outdoor kitchen and BBQ area. There is also a wonderful rooftop terrace with panoramic views over the city.
About Alpaca Real Estate:
Alpaca Real Estate is a real estate private equity firm that combines innovation and real assets to maximize the potential of traditional real estate investments. ARE utilizes a thematic investment approach to acquire and acquire traditional and niche real estate investments, with an emphasis on properties requiring recapitalization, repositioning, strategic capital, and/or physical transformation. Manage. ARE integrates the relationships cultivated through Alpaca VC with an innovative operating platform to unlock asymmetric upside potential and create option value beyond traditional real estate business plans.
For more information, please visit www.alpacarealestate.com.
About Hope Street Capital:
With over 40 years of combined experience, the Hope Street Capital (“HSC”) team has extensive and extensive experience in developing, managing, leasing and selling luxury residential, retail and office assets. HSC’s team has experience in each investment stage resulting from over $2 billion of highly diverse transactions, starting with identifying undervalued assets, through the design and development stages, and ending with the disposition of each asset. Masu.
For more information, please visit www.hopestreet.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241015831366/en/
contact address
Media contact:
ICR on behalf of Alpaca Real Estate
Megan Kivlehan | megan.kivlehan@icrinc.com
