The hyperactive multifamily deal market continued Thursday with the $300 million joint venture announced between Cedar Street Cos. and Quartz Lake Capital, to target infill multifamily development opportunities.
The joint venture will develop projects ranging in size from $75 million to $125 million and located in infill urban target markets, which include Southern California, South Florida and the upper Midwest, among others. The joint venture's target level of equity investment translates to a gross multifamily development portfolio of approximately $1 billion.
Cedar Street Cos. is a vertically integrated real estate investment, development, and management platform, and Quartz Lake Capital, a private equity real estate investment manager.
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