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Announced

Completed

TF Cornerstone completed the acquisition of The Berkley from Trinity Place Holdings for $71m.

Financials

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Transaction Value£56m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Majority

property assets

Single Bidder

Private

Friendly

Real Estate

Domestic

Completed

United States

Real Estate Holding and Development

Acquisition

Synopsis

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TF Cornerstone, a real estate development company, completed the acquisition of The Berkley from Trinity Place Holdings, a real estate company, for $71m. “We took advantage of the current market to make this opportunistic sale. This further bolsters our investment thesis that even when interest rates are volatile and rising, high-quality multifamily assets in prime New York City neighborhoods remain in strong demand,” Matthew Messinger, Trinity Place Holdings CEO and President.

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