Ivanhoé Cambridge, Goldman Sachs and Greystar Partner on an 8,010-Unit Portfolio
- Apr 10, 2013
New York—Ivanhoé Cambridge, a Quebéc-based global investment firm, has announced that it has partnered with the Real Estate Principal Investment Area of Goldman, Sachs & Co. and Greystar Real Estate Partners, as well as several other partners, in an 8,010-unit portfolio, with properties located across the United States. This deal follows Goldman Sachs and Greystar’s recent $1.5 billion acquisition of assets from Equity Residential.
“As we have said before, we’re looking to register a significant growth in the U.S. market across our strategic priority segments in key geographies,” Sébastien Théberge, senior director, public affairs and communication, tells MHN.
The new portfolio includes 27 Class A and B multifamily communities that are located in areas with strong economic and job growth potential. Most of the properties were built between 1999 and 2000 and are located in high-performing sub-markets of key U.S. cities.
Ivanhoé Cambridge, Goldman Sachs, Greystar and their partners have agreed to a multi-year maintenance and renovation and investment program for all the assets.