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Sign in Sign up for a FREE subscriptionRREAF Holdings JV buys $500m multifamily portfolio
RREAF Holdings, with its partners DLP Capital and 3650 REIT, announced the acquisition of their TransCoastal 21 multifamily portfolio. The portfolio includes 21 multifamily properties consisting of over 4,000 units in Mississippi, Alabama, Florida, Texas, Arkansas, Louisiana, Georgia and North Carolina. The sales price and the seller were not disclosed, but it is estimated to be more than $500 million, according to media outlets.
RREAF’s multifamily division bought the properties from three different sellers. According to the National Multifamily Housing Council, the multifamily sector of the commercial real estate space continues to show resilience and strong results. RREAF continues to be active in this sector with more than 7,400 units acquired since the onset of the pandemic, including the Sunbelt 12 portfolio it closed last December. RREAF Holdings, through its acquisitions and dispositions department, has also closed more than $1.3 billion in transactions in less than