Investor Group Snags 49.9% Stake In Brooklyn's Industry City

Law360, New York (September 6, 2013, 3:30 PM EDT) -- A group of investors led by Jamestown Properties has closed on the purchase of a 49.9 percent stake in Brooklyn's Industry City, a 6 million-square-foot group of former warehouses, for an undisclosed price, a person close to the deal told Law360 Friday.

Real estate investment companies Belvedere Capital Management LLC and Angelo Gordon & Co. also participated in the investment, which gives the group control of the property, despite having a minority interest, the source confirmed.

New York City moguls Ruby Schron and the Fruchthandler family...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.