RREAF Holdings, a private real estate investment and development firm based in Dallas, together with its partners DLP Capital and 3650 REIT, has acquired a 13-asset multifamily portfolio in the Sun Belt region consisting of more than 2,000 units.
This is the first tranche of a large, three-phase acquisition, which is slated to close by early November. The entirety of the portfolio totals 21 multifamily communities and more than 4,000 units and was valued at $534 million. Berkadia arranged the Freddie Mac acquisition financing for the entire transaction, and Cushman & Wakefield represented the sellers for the first tranche.
“Impacting the crisis of affordable workforce housing is at the heart of DLP Capital’s mission,” said Don Wenner, CEO and founder of DLP Capital. “This portfolio of communities will provide safe and comfortable homes to thousands of working families.”
Jonathan Roth, managing partner and co-founder of 3650 REIT, added, “The Sun
