• Tritec News

$146M sale of Long Island multi-housing community

The Wel

JLL Capital Markets announced today that it has closed the $146 million sale of The Wel, a 260-unit, newly constructed, mid-rise, luxury multi-housing community located in Lindenhurst, New York, along the South Shore of Long Island. The $146 million sale price was for both the real estate as well as the significant 30-year IDA tax package; no details were supplied on the price allocation.

JLL represented the seller, a JV between Tritec Real Estate Company, Inc. and an affiliate of Rockwood Capital. Fairfield Properties acquired the asset.

Read the full article in Real Estate Weekly.