DALLAS, TX - Crow Holdings Capital Partners, a diversified investment firm, announced the sale of a multifamily portfolio consisting of 12 Class A properties with 4,426 luxury units. These properties are located in geographically diversified markets experiencing strong rental population and economic growth, including Texas, Colorado, Oregon, Georgia and Tennessee.
Dodge Carter, Crow Holdings Capital's Director of Multi-family Investment, commented, "Our broad network of real estate relationships continuously source and deliver attractive opportunities. The successful sale of this portfolio further affirms our value creation strategy focused on high-amenity properties located in high-growth markets with strong income streams."
Anne Raymond, President of Crow Holdings Capital, added "Our many years of experience investing through real estate cycles and strong alignment with our partners guide our cautious – but opportunistic – approach to acquisition and exit strategies for our portfolios. Our success over the years derives from our real estate professionals' fundamental approach to, and deep understanding of, real estate value creation across various asset classes, including industrial, retail, office, multi-family, convenience & gas stores, hotel, and medical office buildings. We continue to be grateful for the strong support of our partners."
Since 1998, the private equity real estate funds have invested in 73 multi-family properties comprising over 24,000 multi-family units as of December 31, 2013, representing nearly $3.2 billion in assets.
ARA and HFF LP were the lead brokers for the transaction. Additional terms were not disclosed.
Crow Holdings Capital is a Dallas-based global asset fund manager. Crow Holdings Capital and its affiliates have managed six private equity real estate funds. Equity capital from these funds totals approximately $4.1 billion, of which approximately $675 million has been committed by Crow Family Holdings. Fund VI is the largest fund in the series, closing with capital commitments of $1.067 billion in August 2013.
Source: Crow Holdings Capital Partners / #Apartments #Multifamily