A private investor group headed by the chief executive of real estate firm Related is buying Alta Bicycle Share and will move its headquarters from Portland, Ore. to New York City.

Alta Bicycle Share , the operator of Hubway , is getting new owners, but Boston officials say they do not foresee any changes to Boston's bike-sharing system.

Alta runs New York's Citi Bike as well as bike-share programs in Chicago, Boston, Toronto, Washington and other cities.

In Boston, officials said the change of ownership will not result in any immediate changes from the sale. "The City of Boston currently manages the Hubway program, and we're at the beginning of a three-year contract." said Nicole Freedman, the director of Boston Bikes, the city agency that oversees the city's cycling programs. "We do not anticipate any changes in our operation, and we look forward to a productive working relationship with the owners. The City of Boston currently sets prices and determines station locations and we will continue to do so."


In New York, the price of an annual Citi Bike membership will rise from $95 to $149. Officials plan to expand Citi Bike from 6,000 to 12,000 bicycles by the end of 2017. They'll push into new neighborhoods including Long Island City, Queens, and Brooklyn's Park Slope.

Former Metropolitan Transportation Authority Chairman Jay Walder will be Alta's new chief executive.