LOS ANGELES-Real estate investment firm BentleyForbes is partnering with Orlando, FL-based Del American Real Estate Group, a developer of luxury multifamily communities, to form BentleyForbes Del American, a best-in-class developer of luxury apartment properties. The joint venture will focus on developing luxury apartment communities in California, Florida and Texas.
The venture’s luxury brand “Pure Living” is intended to represent the ultimate lifestyle in apartment living, delivering contemporary, state-of-the-art apartment homes featuring quality construction fit and finish and a high level of materials, features and amenities that are generally reserved for private luxury homes or international resorts.
According to Jeffrey Warwick, CEO of BentleyForbes, “The multifamily rental market will remain an attractive and fundamental component of US housing and will offer sustainable long-term investment returns. Partnering with industry leader Del American provides BentleyForbes with the optimal opportunity to provide high-quality housing and prudently expand its real estate portfolio into the sector.”
Christopher DelGuidice, president of Del American and a multifamily industry veteran, has developed more than 30 residential communities representing more than 10,000 residences valued in excess of $1 billion. According to DelGuidice, “As we began to explore a possible partnership with the BentleyForbes team, it became obvious that with BentleyForbes’ financial strength, a strategic partnership would allow Del American to expand its business throughout the US.”