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Black Spruce Mgmt Flips Eight Bldg Outer Boroughs Multifamily Portfolio

JV Pays $60M for 324 Sec-8 Apartments in Brooklyn, Bronx
By Justin Sumner
CoStar News
August 9, 2016 | 6:50 P.M.

BFC Partners and K&R Preservation Development Partners have acquired an eight-building multifamily portfolio across Brooklyn and South Bronx in New York from Black Spruce Management for $60 million, or about $185,000 per unit.

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