Atlanta-based Crown Holdings Group has entered into a joint venture with Stern Resources Inc., a New York–based investment holding company that is leading a $250 million investment into purchasing, developing and growing Crown Holdings’ multifamily portfolio in the United States.
Crown Holdings Group, which has invested approximately $1 billion in the Southeast over the past 10 years, plans to invest approximately 30 percent of the funds in building additional workforce housing in the Atlanta MSA as part of the partnership with Stern Resources Inc.
Crown Holdings Group will also invest the funds in workforce housing development projects in Texas (with an initial focus in Houston), as well as in residential and resort developments in Florida. The investment facility will represent a lower risk to investors, who should still be expecting a double-digit annual return.
The multifamily investment asset class is among the most sought-after U.S. real estate investm
