HREV and an investment partner acquired a 2.7 acre transit-oriented development site in Mamaroneck, NY, through a bankruptcy auction held in late 2012. HREV completed the acquisition in the first quarter of 2013. Sheldrake Lofts is located within walking distance to the Mamaroneck Metro-North train station and Mamaroneck Village retail shops. The development will consist of 96 units in three buildings of four stories each, plus four townhomes.
Sponsor Equity / Distressed Asset Purchase