SAN FRANCISCO—Canadian-basedIvanhoé Cambridge has created a partnershipwith Veritas Investments, Inc. to acquiremultifamily properties in San Francisco.
An initial portfolio has been assembled, comprising nineproperties already acquired or that are in the process ofbeing acquired, representing a preliminary investment of nearly$50 million. This new partnership provides accessto numerous investment opportunities with a high potential forvalue creation in various neighbourhoods in the heart of SanFrancisco.
“The multiresidential market in San Francisco being highlyfragmented, we are convinced that Veritas, with its deep marketknowledge, will help us build a critical mass of assets in some ofthe city's key districts,” said Sylvain Fortier,executive vice president, residential, hotels and real estateinvestment funds, at Ivanhoé Cambridge. “Veritas has demonstratedthe fundamental qualities we were looking for to enter this market,namely diversified real estate experience, crucial local expertiseand a strong commitment to quality assets.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
