Ivanhoé Cambridge Invests in Mount Auburn Multifamily
The $150 million in capital will target high-growth secondary markets.
Multi-Housing News | Oct. 6, 2021
Canadian-based Ivanhoé Cambridge continues to grow its U.S. multifamily portfolio by investing $150 million of preferred equity into Mount Auburn Multifamily, a private real estate firm that owns and manages $2 billion of assets in high-growth secondary markets. The investment expands the relationship between the two companies that started in June when they launched a joint venture to invest in preferred equity for ground-up multifamily developments.
Last month, Ivanhoé Cambridge formed a joint venture with Walker & Dunlop Investment Partners to make preferred equity investments in multifamily, student housing and manufactured housing properties primarily in the top 25 MSAs in the U.S. The joint venture’s first transaction was an approximately $4 million preferred equity investment into a joint venture with Pegasus Real Estate to acquire the 240-unit Collection at Overlook, now rebranded as Cornerstone at Overlook, in San Antonio.View Full Article