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.

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