NEW YORK CITY-Locally based Related Cos. has joint ventured with Tiki
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The first phase of the venture will consist of the acquisition and refurbishment of more than 3,500 residential units for low-to-moderate income families in Virginia and North Carolina. Centerline Capital Group will finance approximately $150 million of the project, which will progress over the next three to four years. A spokesperson at Related tells GlobeSt.com there is not a set number for financing of the future projects. She also notes that that the first phase will consist of 30 developments, adding that refurbishments could be done to the interior or exterior depending on the property, but most likely a little bit of both.
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