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| Henderson Global Investors acquires property in Manhattan Henderson Global Investors, the independent investment manager with more than $117 billion under management, has announced the acquisition of a multi-family property in New York City. The residential buildings, located at West 107th Street on the Upper West Side of Manhattan, mark Henderson's first investment in New York City, and were acquired on behalf of Henderson's CASA IV Fund. This also marks Henderson's first acquisition with its newest joint venture partner, The Dermot Company, the latest real estate operator/developer to join Henderson's Manager of Partners (MOP) Program. Dermot is an experienced developer and owner-operator of multi-family properties in New York City. The West 107th Street acquisition is a six-story property consisting of three contiguous buildings with 177 units (135,800 square feet). Built in 1909, the property is a value-add investment opportunity and includes a development component and a significant unit rehabilitation program. The fourth in Henderson's series of value-add US multi-family housing funds, CASA IV has raised $205 million in equity from institutional investors, including four U.S. public funds and one corporate pension plan. Including the New York City property, the CASA IV Fund has acquired 7 property assets to date, and anticipates investing the remaining capital this year. write your comments about the article :: © 2008 Construction News :: home page |