Fairstead, Invesco land massive Bronx affordable housing portfolio in $350M deal

Fairstead and Invesco Real Estate are purchasing almost 2,000 affordable housing units across 48 buildings and 2.3 million square feet in the Bronx in what the companies are billing as New York’s largest affordable housing deal of the year.

The acquisition is valued at more than $350 million, according to sources familiar with the deal. Fairstead and Invesco are taking over the buildings from Property Resources Corp. and plan to preserve them as affordable housing.

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