NEW YORK--(BUSINESS WIRE)--Fairstead Capital announced the acquisition of a nearly 1,000-unit free market rental housing portfolio in Manhattan for $690 million in partnership with Blackstone Real Estate Partners VIII. The Portfolio, which was previously managed by B&L Management Company and sold by the Caiola Family, is made up of 24 mid-rise rental properties totaling 997 units, located in and around the Chelsea and Upper East Side neighborhoods. Ownership’s plans for the Portfolio includ