Corebridge Real Estate Investors (CREI) has announced the recapitalization of a joint venture with a gross asset value of $670 million. The portfolio consists of six class A apartment buildings, totaling 1,990 units with a 95 percent occupancy rate. The new institutional investor, CBRE Investment Management (CBRE IM), will hold a 44.5 percent stake alongside CREI in these premier properties located in Boston, Denver, Los Angeles, Orlando, Fla., St. Louis, and Tampa, Fla.
With stable occupancy and robust rental demand, the portfolio is well positioned to benefit from strong supply-demand dynamics in their respective markets, according to the release.
“We are delighted to welcome our new partner in this significant recapitalization. CBRE Investment Management brings deep experience and a long-term perspective to the venture,” said Doug Tymins, president and CEO of Corebridge Real Estate Investors. “This portfolio of class A apartments represents a compelling oppo
