Eva Poon
The AvalonBay Value Added Fund II will seek to acquire multifamily apartments in ‘high barrier-to-entry’ markets in the US.
Continuing on the year’s flurry of deals in the multifamily sector, the Boston-based firm has picked up two properties in Orlando, Florida in one of the biggest multifamily transactions in Orlando this year.
Despite the credit crunch, the global office markets are still on an “upward trend,” according to a report by real estate services firm, Colliers International. The emerging markets continued to record strong growth in the sector.
The Singapore-based firm will invest $200m over the next year in the Indian property market, including real estate developments such as mixed-use complexes, IT parks and residential and commercial projects.
The private equity real estate firm has partnered with US-based real estate investment firm ConAm to acquire a 456-unit apartment complex in Sacramento, California. The pair plan to upgrade the property and increase rents.
The private real estate investment firm has acquired nine multifamily properties in the Austin, Texas market, betting on the area’s strong demographics.
Silver Capital and McCann Realty Partners have closed their second residential real estate fund, Silver-McCann Apartment Group II, with the vehicle’s final investment in Houston, Texas. The pair formed Silver-McCann Group three years ago to acquire apartment assets in the US.
The Canadian pension bucks the loss-making trend among North American pension funds returning one percent on its investments in the three months to June this year. The pension’s real estate allocation now stands at 5.6%, or $7.2bn. Infrastructure makes up 2.6%, or $3.3bn, of its portfolio.
An aging population and increasing demand for improved healthcare are putting focus on the growing life science-related real estate sector in the US, according to a report by CBRE. The San Francisco Bay Area, home to more than 800 biotech companies, is one of the largest markets.
The joint venture’s planned mixed-use development is located on former Boeing aircraft land.