NEW YORK, NY - Hamilton Lane (Nasdaq: HLNE), a leading global private markets investment management firm, announced an investment in a portfolio of four multifamily assets in lower Manhattan. Funds managed by Hamilton Lane have acquired an 85% interest in the assets of a family office seller. The portfolio comprises 126 multifamily units and 11,050 square feet of prime ground-floor retail space in the highly desired New York City neighborhoods of the West Village and SoHo.
Dalan Real Estate is a vertically integrated real estate firm specializing in New York City multifamily properties. Dalan will retain its 15% interest in the portfolio and will continue to operate the buildings. Hamilton Lane's partnership with Dalan leverages the firm's deep familiarity with the assets and expertise in the real estate space.
"We are excited to partner with Dalan, who has deep knowledge of and familiarity with these strategically located multifamily assets, on this transaction. We had high conviction around the acquisition of these assets, which have resilient tenant demand in a desirable location," said Elizabeth Bell, Co-head of Real Estate at Hamilton Lane.
"Following a decline in U.S. real estate values of about 20% over the past two years, we believe this is an opportunistic time to invest in high-quality assets in prime locations at attractive entry values. Given the scale of the Hamilton Lane platform and our reputation as a supportive capital partner, we have generated significant deal flow and have the flexibility to invest in real estate through various channels, including primary funds, co-investments, secondaries and joint ventures. We remain eager to continue partnering with experts like Dalan in sectors and locations where we have strong conviction," she added.
"We are very excited to be partnering with Hamilton Lane on this transaction. We have a high level of conviction and ten years of direct knowledge operating these assets which will position our partnership for immediate success. There continues to be great demand for people to live in these neighborhoods and we don't expect that to change any time soon," said Daniel Wrublin, CEO of Dalan Real Estate.
Source: Hamilton Lane / Dalan Real Estate