Lincoln Property Co. and Cadillac Fairview kickstart $800m multifamily fund acquisitions

Lincoln Property Co., alongside partner Cadillac Fairview, has closed on the acquisition of Alexan Earl. The 12-story apartment community, located at 1122 N. Hudson St., sits within the Clarendon submarket in Arlington, Va.

This is the first existing asset acquisition from the $800 million and growing U.S. multifamily fund, co-sponsored by Lincoln Property Co. Residential and Cadillac Fairview. The acquisition of Alexan Earl, soon to be renamed The Earl, jumpstarts the venture’s core acquisition initiative, with several assets expected to close in 2021 across top U.S. markets.

“The purchase of The Earl is the beginning of our long-term acquisition strategy for the fund, adding existing high-quality multifamily assets to our portfolio across major markets,” said Chase Erickson, Lincoln’s vice president of investments. “Our acquisition plan works in tandem with our construction goals for the fund — with several apartment communities under construction in metr