Pinnacle Buys Out Partner In $208M Brooklyn Apt. Deal

Law360, New York (March 11, 2014, 8:44 PM EDT) -- The Pinnacle Group, the real estate investment firm run by Joel Wiener, paid $208 million to acquire Hudson Realty Capital LLC’s interest in 28 Brooklyn apartment buildings that had been co-owned by the two companies, according to public records Tuesday.

Hudson, an equity partner of Pinnacle, had owned an interest in the portfolio since 2008. With the investment, Pinnacle, which owns property across the New York metropolitan area, is banking on the continued rise of property values in Brooklyn.

Many of the apartment buildings in the...
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