Invesco Acquires AvalonBay's Multifamily Portfolio In $760M Deal

AvalonBowery I, Avalon Bowery II, Avalon West Chelsea, AVA High Line, and Avalon Morningside Park are the multifamily assets that were transacted in New York. The sale took place on December 19, 2018, with a sale price of $760,000,000. The total square footage of the properties is 1,027,567. AvalonBay, the seller, sold an 80% interest in the assets to Invesco, the buyer. The transaction was facilitated by Adam Spies, Doug Harmon, Josh King, Michael Collins, Avery Silverstein, and Adam Doneger from CushWake.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $760,000,000
• Buildings: Avalon Bowery I, Avalon Bowery II, Avalon West Chelsea, AVA High Line, Avalon Morningside Park
• Seller: AvalonBay
• Buyer: Invesco
• Brokers: Adam Spies, Doug Harmon, Josh King, Michael Collins, Avery Silverstein, Adam Doneger - CushWake
• Square Footage: 1,027,567

The sale involved prominent individuals such as Adam Spies, Doug Harmon, Josh King, Michael Collins, Avery Silverstein, and Adam Doneger from CushWake. They played a crucial role in facilitating the transaction between AvalonBay, the seller, and Invesco, the buyer. The 80% interest sale of these multi-family assets in New York reflects a significant real estate transaction.