The Toronto-based real estate private equity company Firm Capital has partnered with Rhodium Capital Advisors to purchase a multi-family rental building portfolio in Central Harlem for $37 million. The portfolio is comprised of eight walk-up buildings with 127 apartments and two commercial retail units. The acquisition is Firm Capital’s first major investment in the U.S. as part of its strategy to purchase undervalued multi-residential properties in emerging neighborhoods within major markets. The buyers plan on a multi-million dollar budget for capital improvements to the newly acquired assets.
