A partnership between New York City pension funds and the Related Cos. has secured $77 million in financing for the acquisition of a 20-building Bronx apartment portfolio. New York Community Bank financed the deal for the 737 apartments units spread throughout the North, West and South Bronx. The investors purchased the portfolio for $112.5 million from Eastern Capital Partners in December of 2015. The buildings, mostly low-rise walkups with rent-stabilized units, are located in neighborhoods such as Soundview, Wakefield, High Bridge and Fordham.
