SAN DIEGO—Strata, a San Diego-based real estate investment firm, has acquired a 12-property multifamily portfolio from Blackstone Real Estate Partners VII. Strata made the deal in partnership with a private Mexican investor group. The seller was advised by Holliday Fenoglio Fowler.
The portfolio is composed of more than 4,600 apartment units located in Atlanta, Austin, Denver and Houston. The acquisition was financed by Strata's internal private investor group and the debt was provided by Freddie Mac via Holliday Fenoglio Fowler (HFF).
“These acquisitions have expanded Strata's national presence in line with our long-term investment strategy of delivering attractive risk-adjusted cash yields in strategic growth markets to our investors,” said Carlos Michan, Strata's CEO & founder. “Over the last five years, Strata has rebuilt its income property portfolio after having divested a majority of its assets during the last upcycle. These efforts have complemented Strata's land banking and entitlement division.”
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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.
