Urban American Roosevelt Landings Lease Assignment On Agenda For Roosevelt Island Operating Corp (RIOC) Real Estate Committee Today - License Of Southpoint Park Land For Use By FDR Park On Agenda For Full RIOC Board Today Too

Reported August 15:

A change in ownership is coming to Roosevelt Island's 1003 unit Roosevelt Landings building complex currently owned by Urban American.

Brookfield Property Partners has acquired an interest in Urban American's Putnam Apartment Portfolio (approximately 4,000 units) which includes Roosevelt Landings on Roosevelt Island in a transaction valued in excess of 1 Billion Dollars.

Sources who are familiar with the transaction confirmed that Urban American will continue to own the properties in partnership with Brookfield and will continue to operate and manage the buildings....

... Not known at this time if RIOC's consent is needed for the ownership change at Roosevelt Landings.

We'll find our more about the Roosevelt Landings transaction later today. According to the Roosevelt Island Operating Corp (RIOC)

PLEASE TAKE NOTICE that a meeting of the Real Estate Development Advisory Committee of the RIOC Board of Directors will be held on Thursday, September 11, 2014 at 4:00 p.m. at the RIOC administrative office, 591 Main Street, Roosevelt Island, New York.

Agenda:

Discussion of Roosevelt Landings/Eastwood Lease Assignment

Any Other Committee Business That May be Brought Before the Committee

An audio web cast will be available soon after the meeting.

The full RIOC Board of Directors will meet following the Real Estate Advisory Committee meeting. According to RIOC:

AGENDA

SEPTEMBER 11, 2014 MEETING OF

THE ROOSEVELT ISLAND OPERATING CORPORATION BOARD OF DIRECTORS

THE MANHATTAN PARK COMMUNITY CENTER,

8 RIVER ROAD, ROOSEVELT ISLAND, NEW YORK

5:30 P.M.[1]

I. Call to Order

II. Roll Call

III. Approval of Minutes

1. June 26, 2014 Board Meeting (Board Action Required)

IV. Old Business

V. New Business

1. Presentation of the FY 2014-15 QTR 1 Procurement Report

2. Authorization to Enter into License Agreement with New York State Office of Parks, Recreation and Historic Preservation for Certain Land Adjoining Four Freedoms State Park (Board Action Required)

3. Ratification of Contract with Singh Landscaping & Lawn Sprinkler Corp. for Good Shepherd Community Center Plaza Landscaping (Board Action Required)

4. Authorization to Enter into Contract with Quintal Contracting Corp. for Pothole Repair (Board Action Required)

5. Authorization to Enter into Contract with Shawn Construction, Inc. for Resetting of Z-Brick Pavers (Board Action Required)

6. President’s Report

7. Committee Reports

a. Audit Committee

b. Governance Committee

c. Operations Advisory Committee

d. Real Estate Development Advisory Committee

8. Public Safety Report

VI. Adjournment

[1] The RIOC Board Meeting will commence following a public comment period. The public comment period is not part of the meeting.

A web cast will be available son after the RIOC Board meeting.

More on Agenda Item 2 regarding licensing of Southpoint Park land to NY State Parks for benefit of FDR Four Freedoms Park Conservancy at this post from yesterday.


UPDATE 11 AM - Apparently, the consent of RIOC is required for the Urban American ownership change by assignment of lease.

I just received notice of an amended RIOC Board Agenda for today's meeting which included a new Item 6:

6. Authorization of Consent to Assignment of Lease by North Town Roosevelt, LLC (the Eastwood Tenant) to BSREP UA Roosevelt Landings LLC (Board Action Required)

UPDATE 9/12 - Here's full report including video of the Roosevelt Landings lease assignment meetings.