Lincoln Property, Cadillac Fairview Grow Multifamily Fund to $1.8B
The Investment Management Corporation of Ontario contributed to the $1 billion expansion.
With widespread strong performance across the country in apartment markets, Lincoln Property Co. has added significantly to its nationwide multifamily fund.
Lincoln Property Co.’s residential division and its partner, Cadillac Fairview, as co-sponsor, have grown their US multifamily fund from $800 million to $1.8 billion in equity.
Lincoln Residential, Cadillac Fairview and the Investment Management Corporation of Ontario contributed to the $1 billion expansion.
The fund will continue to work as a long-term investment vehicle, focusing on the development and acquisition of high-quality multifamily assets across top US markets.
To date, the fund has acquired several luxury communities including:
- The Earl in Arlington, Va.
- The Pullman in Denver
- The Registry on the Park in Atlanta
- The Bernardin in Chicago
- Lake House in Orlando
In addition, the fund has numerous development projects under construction, with additional projects planned in major cities, including Boston, Washington, D.C., Charlotte, Nashville, Dallas, Atlanta, Miami, Phoenix, and Chicago, among others.
“The growth of the fund is a testament to the success we’ve seen since its inception nearly two years ago,” Duncan Osborne, Executive Vice President, Investments, for Cadillac Fairview, said in prepared remarks. “Expanding and diversifying into the US multifamily market with our partner, Lincoln Residential, alongside our existing partner, IMCO, has been fruitful and we look forward to the opportunities that arise from the fund’s continued growth.”