QuadReal Property Group is 1,400 units larger after acquiring four Class A communities. The company announced the transaction in August and that it would lead the operations, leasing and capital investment in the property—property management will be outsourced.
“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, in a release.
Beacon85 is a 343-unit community in the Lakewood North area of Denver. Bradham, in Charlotte, N.C.'s, South End, has 432 units. Maris is in Annapolis Town Center between Baltimore and Washington, D.C., with 293 units. Nexa, near Arizona State University in Tempe, features 399 units.
"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," said Jonathan Dubois-Phillips, President, International Real Estate, QuadReal, in the release.