Henley USA establishes a new apartment-based brand, Henley City Living, with first NYC property

BOSTON, Oct, 24, 2017 /PRNewswire/ -- Henley USA is continuing its acquisition program with two properties on East 84th Street, between First and York Avenues. Henley USA plans for this to be the first of many in New York City, and is establishing a new brand, Henley City Living.

"We're excited about this high-quality asset. We will be renovating building systems very soon, and have already commenced the demolition process for a number of vacant apartments," said Garrett Solomon of Henley USA. "At every Henley City Living property, we plan to make everyday life for our residents more convenient through the installation and use of the latest in-home technology. The use of building access systems that connect to tenants' mobile phones, instead of traditional intercom systems, is just one example of how we'll simplify life for residents on a daily basis."

Many apartments in these six-story walk-ups will receive new kitchens and baths, with some units being converted to provide three bedrooms. Common areas and the buildings' electrical systems will also be upgraded; one featured addition being new rooftop decks. Another unique offering will be that residents can choose either Time Warner Cable or Verizon Fios service, with internal wiring for easier installations.

New York-based Stone Street Properties, a vertically integrated real estate company, will manage the buildings. Stone Street Properties will contribute its proven approach to property management as they and Henley USA establish this prime asset.

Chief Executive Officer of Henley Investments, Ian Rickwood, commented, "The acquisition of these properties represents an attractive value-add investment and builds on our strategy to identify residential properties in high-demand areas where we can build return through unit renovation. The local expertise of Henley USA allows for the off-market acquisition of assets meeting key criteria.

"This purchase builds on Henley USA's strong track record, having recently completed three transactions in quick succession with a combined value of more than $100 million. With the launch of our new sub-brand, Henley City Living, and an extensive pipeline of deal flow, we are confident that Henley USA is on track to double its US footprint in the near-term, and continue that success in 2018."

Henley

Established in 2006, Henley is a leading UK private equity real estate investor focusing on development, investment and asset management in the commercial, residential, healthcare debt and alternative real estate market. Since inception, Henley has approximately doubled in size every year and is expected to do the same again in 2017. The company currently has around $1.5 billion assets under management (as of mid-year 2017).

Henley is an entrepreneurial company that continues to back entrepreneurs. Its platform has multiple divisions, all headed by an experienced entrepreneurial partner. These include Henley Space, a prime London residential development; HCRE, an opportunistic commercial investment; Henley Healthcare Investments; Henley 360, a European light industrial vehicle; Henley Camland, a land infrastructure business; Henley Ark, in the student accommodation space and Henley USA, which looks at new ventures across all asset classes.

With offices in Boston, Massachusetts; Newport Beach, California and Naples, Florida, Henley USA is headed by Garrett Solomon, who previously founded the award-winning, nationally recognized residential land development and management company, Corbelis. Prior to forming Corbelis in 2012, Solomon spent almost two decades with a series of well-known real estate private equity firms.

SOURCE Henley USA