QuadReal Property Group has acquired a U.S. class A multi-family real estate portfolio across four major markets.

The assets are located in the Denver area; Charlotte, N.C.; greater Phoenix and Annapolis, Md., which is part of the Washington, D.C., market. The purchase price was not disclosed, and no sellers were identified.

Vancouver-based QuadReal said the stabilized portfolio will add about 1,400 units to the company’s multi-family portfolio in high-conviction submarkets boasting exceptional fundamentals.

“Multi-family residential is an area of key conviction for QuadReal, and these assets are well-positioned with excellent walkable retail amenities, easy access to public transportation, and located in dense employment areas,” said Daniel Gliksman, QuadReal’s managing director.

The properties will also bolster QuadReal’s direct-owned and self-managed residential portfolio in the U.S., said the company. QuadReal will oversee operations, leasing, and capital investment with property management services outsourced to a third-party provider.

Jonathan Dubois-Phillips, QuadReal’s president of international real estate added: “QuadReal is focused on building a best-in-class portfolio. We are highly selective about the assets we acquire, and this investment expands our portfolio in targeted US submarkets while also delivering strong risk-adjusted returns.”

The assets include:

• Beacon85, a 343-unit complex in Denver’s Lakewood North area;

• Bradham, which features 432 apartments in Charlotte’s South; End;

• Maris, a 293-unit asset located in Annapolis Town Center, equidistant to Washington D.C. and Baltimore; and,

• Nexa in Tempe, Ariz., which provides 399 units near Arizona State University.

QuadReal is the real estate investment arm of the B.C. Investment Management Corporation, which also invests globally and ranks among Canada’s largest institutional investors.

Image: Quarterra