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CAPREIT Preps for $500M Multifamily Buying Spree

ROCKVILLE, MD-It is a great time to be a buyer of this asset class, president Dick Kadish tells GlobeSt.com’s Erika Morphy.

By Erika Morphy | Updated on July 06, 2012

(Save the date: RealShare Apartments comes to the Westin Bonaventure, Los Angeles, October 24.)

ROCKVILLE, MD-Locally-based CAPREIT is poised to embark on a $500-million asset commercial real estate acquisition spree, principals of the firm tell GlobeSt.com. To be precise, the $500 million refers to the total property value in value-add multifamily acquisitions it plans to make over the next 18 months. To fund these transactions, it will be turning to both existing and new partners to raise $150 million of JV equity that will be leveraged between 65% to 70%, president Dick Kadish says.

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