Related, city pensions invest in 35-building Bronx portfolio

Properties includes rent-stabilized buildings, medical offices

West Bronx apartments
West Bronx apartments

The Related Companies, in partnership with city pension funds, has forked over $270 million for a Bronx rental building portfolio.

The 35-building portfolio, purchased from SW Management, consists of medical offices and more than 2,000 Apartment Units Located On Valentine Avenue, University Avenue And Fulton Street in the West Bronx.

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The first batch in the sale closed for around $90 million last week, according to the New York Post.

Newmark Grubb Knight Frank’s James Kuhn and Carol Ann Flint marketed the portfolio, which consists primarily of rent-stabilized buildings. The pair declined to comment to the Post about the sale, which is expected to close sometime in the next few months. [NYP, 2nd item]Julie Strickland