RXR has formed a new $500 million strategic discretionary separate account with the North Carolina Investment Authority (NCIA) to provide structured equity solutions for more than $2 billion of high-quality residential development and transitional real estate projects across the United States.
The partnership’s investment strategy utilizes RXR’s track record in residential and mixed-use development to pursue well-located projects in high-growth markets. The partnership’s structured equity investments will focus on long-term housing demand trends and the capital dislocation now impacting the nation’s housing infrastructure, while promoting both investment and affordability.
The partnership is seeded by a $64.25 million structured equity investment in a 327-unit luxury multifamily community located within PV Phoenix, the mixed-use redevelopment of the former Paradise Valley Mall in Phoenix.
The partnership builds on RXR and NCIA’s existing $475 million c
