Lone Star sells another apartment portfolio

Fairfield Properties has acquired a $472.5 million, seven-asset multifamily portfolio in Nassau and Suffolk counties in New York, according to media outlets.

The seller was Home Properties, which is owned by Lone Star.

The 1,496 unit portfolio consist of Westwood Village, in Westbury, 242 units; Heritage Square, East Meadow, 80 units; Cambridge Village, Levittown, 82 units; Yorkshire Village, Levittown, 40 units; Mid-Island Apartments, Bay Shore, 232 units; Southern Meadows, Bayport, 452 units; and Lake Grove Apartments, Lake Grove, 368 units.

The sale follows Lone Star selling a $1.1 billion portfolio to the Kushner Cos.