NAA members involved in product, property acquisitions. (Industry Insider).

NAA member Greystar Real Estate Partners, purchased a portfolio of Manhattan apartments from Thurcon Properties, Inc., a New York real estate company. The total purchase price for the portfolio, which comprises nine buildings in various Manhattan locations, is approximately $240 million. The buildings also include 60,000 square feet of commercial space. Greystar purchased the buildings in July.

The portfolio includes two buildings on the Upper East Side, one in the Flatiron District, three in Grammercy Park, two in NoHo, as well as one property in Greenwich Village.

"The acquisition of these properties represents Greystar's entrance into the highly-competitive Manhattan real estate market and immediately makes us one of the larger institutional owners of apartments in New York," said Robert Faith, Managing Partner of Greystar Real Estate Partners.

The properties will be managed by Greystar's property management affiliate in New York, Greystar-Prime Management, LLC.

NAA/NSC member RealPage, Carrollton, Texas, announced completion of the acquisition of YieldStar, a revenue management system for the multifamily industry from Camden. YieldStar is designed to help property owners optimize the pricing of apartment inventory using sophisticated yield models that adjust apartment rents in real time to reflect imbalances in supply and demand.

RealPage said that active client participation is critical to the development of world-class products, and the company expanded the group of property owner/managers who previewed the initial system by holding executive-level revenue management summits in August and September that demonstrated the system. Input received from these summits will be factored into subsequent releases of the product.

Gallarus Media Holdings/ABRY Partners, Boston, acquired Network Communications (NCI), Atlanta, on July 1. NCI, which publishes The Real Estate Book, Apartment Blue Book/Apartment Finder Blue Book, Unique Homes, CorporateChoices and others, is one of the world's largest real estate publishers.

Jupiter Realty, Chicago, acquired Randall Hill Apartments, a 196-unit luxury garden apartment community in Crystal Lake, Ill. The 21-acre site is approximately 35 miles northwest of Chicago. It includes 21 two-story, wood-framed, brick-trimmed buildings and parking for 423 cars. It also has a pool and clubhouse.