QuadReal Property Group, headquartered in Vancouver, British Columbia, continues to bet on the U.S. multifamily sector. The global real estate investment, operating, and development company has acquired four Class A multifamily communities in strategic markets.
The stabilized portfolio adds over 1,400 units in submarkets experiencing strong fundamentals in Charlotte, North Carolina; Denver; Phoenix; and Washington, D.C. The assets expand QuadReal’s direct-owned and self-managed multifamily portfolio in the United States, which comprises 14,357 units across 44 properties.
“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 managing director Daniel Gliksman.
The communities are:
- Beacon 85, providing 343 units in Lakewood, Colorado, which has a deep employment base;
- Bradham, comprising 432 transit-oriented apartments in Charlotte’s South End, which is experiencing high economic and population growth;
- Maris, offering 293 units in Annapolis Town Center, an established residential area with employment, educational, and retail drivers; and
- Nexa, providing 399 units near Arizona State University in Tempe.
“QuadReal is focused on building a best-in-class portfolio,” added Jonathan Dubois-Phillips, president of international real estate at QuadReal. “We are highly selective about the assets we acquire, and this investment expands our portfolio in targeted U.S. submarkets while also delivering strong risk-adjusted returns.”
QuadReal will oversee operations, leasing, and capital investment with property management services outsourced to a third party.
