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Carlyle Group and Extell Development Co. have agreed to buy three apartment buildings and a tract of land on Manhattan's Upper West Side from a group of Hong Kong investors and Donald Trump for $1.76 billion.
The buildings, which consist of 1,325 apartment units with about 1.06 million square feet and 40,000 square feet of retail space, will be resold to Chicago-based Equity Residential for $816 million. The land, bounded by 59th and 65th streets, West End Avenue and Riverside Boulevard, can accommodate more than 10 buildings, Washington-based Carlyle said yesterday in a statement.
Buyout firms including Carlyle, Blackstone Group LP and Thomas H....