Cushman & Wakefield has successfully orchestrated a massive $450 million portfolio sale encompassing four major mixed-asset properties across the New York Metropolitan Region.
The complex, off-market transaction includes a diverse mix of multifamily, retail, medical, and industrial assets, as well as multiple development sites spanning Edgewater, New Jersey; Norwalk, Connecticut; Crestwood (Tuckahoe), New York; and East Fishkill in Dutchess County, New York.
The extensive portfolio was acquired by Westchester, N.Y.-based Saber-Hightower—led by Marty Berger and Greg Belew—who formed a strategic partnership with Lincoln Property Co. To pull off the transaction, the buyers tapped into Lincoln’s global platform of specialty asset groups alongside strategic equity capital sources.
“This was an exceptionally intricate, off-market negotiation and execution,” Marty Berger, principal and co-founder of Saber-Hightower said. “Given the scale, diversity of assets, varying locations and the transitional nature of the portfolio—from ongoing construction and pending leasing activity to debt assumptions and varying stages of approvals—our teams were faced with many challenges.”
Berger credited the tight coordination with the executive team at National Resources (NRE) and their operating partners for bringing the high-profile transaction across the finish line.
Cushman & Wakefield’s dual-team involvement proved vital in navigating the multi-layered deal structure:
- Capital Markets Team: Andy Merin, Frank DiTommaso, and Ryan Dowd of Cushman & Wakefield’s Northeast Capital Markets team exclusively represented the seller.
- Equity, Debt & Structured Finance Team: John Alascio, Alex Hernandez, Brad Domenico, Chuck Kohaut, and Mitch Rothstein arranged the comprehensive acquisition financing package on behalf of the buyer.
The transaction highlights robust investor appetite for large-scale, multi-asset regional portfolios capable of bridging urban and suburban growth corridors across the Tri-State area.
