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DALLAS—Lincoln Property Company's residential division and co-sponsor Cadillac Fairview have closed on a US multifamily fund.
With $800 million in equity commitments from Lincoln Residential, Cadillac Fairview and the Investment Management Corporation of Ontario (IMCO), the fund will focus on the development and acquisition of multifamily assets in top US markets.
To date, the partnership has commenced two multifamily development projects, a 254-unit community in Boston and a 374-unit community in Fort Lauderdale, FL. The fund anticipates starts in other major metropolitan centers early next year and is in the entitlement process on numerous development projects across the country.
The fund continues the partnership between Lincoln Residential and Cadillac Fairview, which concentrates on the growth of multifamily property management operations and investments across the US.
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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.
