Venture closes on $905m acquisition of Brooklyn apartment complex

A joint venture of Brooksville Co. and Rockpoint Group has completed the acquisition of Starrett City, a 5,881-unit affordable housing development in Brooklyn. The sales price was $905 million.

The seller is Starrett City Associates, a partnership that owned the complex since it opened in 1974.

The deal was completed on Monday after getting approval from state and federal regulators, including the U.S. Department of Housing and Urban Development, according to Bloomberg.