Funds managed by investment management firm Hamilton Lane have acquired an 85% interest in the assets of a family office seller, Dalan Real Estate, for $74 million. The portfolio comprises 126 multifamily units and 11,050 square feet of ground-floor retail space in the West Village and SoHo.
Dalan will retain its 15% interest in the portfolio and will continue operating the buildings. “We are excited to partner with Dalan, who has deep knowledge of and familiarity with these strategically located multifamily assets, on this transaction. We had high conviction around the acquisition of these assets, which have resilient tenant demand in a desirable location,” said Elizabeth Bell, co-head of real estate at Hamilton Lane.
She continued, “Following a decline in U.S. real estate values of about 20% over the past two years, we believe this is an opportunistic time to invest in high-quality assets in prime locations at attractive entry values.”
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