Jay Walder, CEO of Alta Bicycle Share, checks out a Citi Bike on Oct. 28, 2014. (credit: Marla Diamond/WCBS 880) Jay Walder, CEO of Alta Bicycle Share, checks out a Citi Bike on Oct. 28, 2014. (credit: Marla Diamond/WCBS 880)

NEW YORK (CBSNewYork/AP) — New York City’s bike-sharing system is getting new owners who say they’ll double its size in the next three years.

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

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