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One of CapitaLand’s new holdings in the US.

SINGAPORE–CapitaLand International has acquired a portfolio of 16 multifamily properties in the US for $835 million, or $220,000 per unit–the group’s first investment in the US multifamily asset class. The 3,787-unit, Class B portfolio is located in suburban communities around Seattle, Portland, Los Angeles and Denver. CapitaLand sees the acquisition as a value add play and plans to refurbish the portfolio in phases over the next few years.

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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