QuadReal Expands US Multifamily Portfolio in High Conviction Markets
QuadReal enhances its US multifamily residential offering by 1,400 units
NEW YORK, Aug. 27, 2024 /CNW/ - QuadReal Property Group ("QuadReal"), a global real estate investment, operating and development company, acquired four Class A multifamily residential properties in strategic US markets – Denver, Charlotte, Phoenix, and Washington, DC – accretive to its global residential portfolio.
The stabilized portfolio will add 1,400 units to QuadReal's multifamily portfolio in high conviction submarkets boasting exceptional fundamentals.
"Multifamily residential is an area of key conviction for QuadReal, and these assets are well-positioned with excellent walkable retail amenities, easy access to public transportation, and located in dense employment areas," said Daniel Gliksman, Managing Director, QuadReal.
These assets will bolster QuadReal's growing direct-owned and self-managed residential portfolio in the United States. QuadReal will oversee operations, leasing, and capital investment with property management services outsourced to a third-party provider.
Jonathan Dubois-Phillips, President, International Real Estate at QuadReal Property Group added, "QuadReal is focused on building a best-in-class portfolio. We are highly selective about the assets we acquire, and this investment expands our portfolio in targeted US submarkets while also delivering strong risk-adjusted returns".
The assets include:
- Beacon85, located in Denver's Lakewood North area, which offers 343 modern residential units well-suited to the neighborhood's deep employment base.
- Bradham features 432 apartments in Charlotte's South End, amidst high economic and population growth, located directly on the city's light rail transit line.
- Maris, located in Annapolis Town Center, is equidistant to Washington D.C. and Baltimore. The property spans 293 units in a highly desirable established residential area with compelling employment, educational and retail drivers.
- Nexa in Tempe, Phoenix, provides 399 units immediately proximate to Arizona State University. It boasts convenient access to rail, air, and road transport links in the bustling Tempe submarket.
About QuadReal Property Group
QuadReal Property Group is a global real estate investment, operating and development company headquartered in Vancouver, British Columbia. Its assets under management are $77.6 billion. From its foundation in Canada as a full-service real estate operating company, QuadReal has expanded its capabilities to invest in equity and debt in both the public and private markets. QuadReal invests directly, via programmatic partnerships and through operating platforms in which it holds an ownership interest.
QuadReal seeks to deliver strong investment returns while creating sustainable environments that bring value to the people and communities it serves. Now and for generations to come.
QuadReal: Excellence lives here.
SOURCE QuadReal Property Group
Media Contact: Hannah Wanlin, QuadReal Property Group, 416-881-5129, [email protected]
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