


Webster, NY In partnership with PH Realty Capital, Rockledge completed the acquisition of Country Manor. 185 Country Manor Way, is a 328-unit garden apartment complex. The purchase price was $29.8 million which equates to $91,000 per unit.
PH Realty Capital and Rockledge plan to add value by increasing the monthly rents across all units and raising occupancy levels.
For more information about Rockledge please visit www.rockledgecre.com
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,