Cedar Street Companies, a vertically integrated real estate investment, development and management platform, and private equity real estate investment manager Quartz Lake Capital have formed a strategic joint venture to invest in infill multifamily development opportunities.
The joint venture will invest $300 million of equity capital in target markets across the United States, targeting class A development projects ranging in size from $75 million to $125 million. Infill urban target markets of focus by the JV will include Southern California, South Florida and the upper Midwest, among others.
The joint venture’s target level of equity investment translates to a gross multifamily development portfolio of $1 billion.
“The timing of this transaction could not have been better,” said Will Murphy, CEO of Cedar Street. “Cedar’s ongoing national expansion will be accelerated through this partnership with Quartz Lake Capital amid a period of tremendous deman
