QuadReal Acquires U.S. Manufactured Housing Portfolio for USD $330M
Latest acquisition expands firm’s U.S. residential footprint
QuadReal Property Group (“QuadReal”), a global real estate investment, operating and development company, acquired an eight-asset manufactured housing portfolio located across key U.S. markets – Austin, Dallas, Orlando, and Salt Lake City. The purchase price was USD $330 million.
These high-quality stabilized all-age communities add to QuadReal’s manufactured housing portfolio and further complement its existing residential footprint across a variety of housing types globally. QuadReal is the largest owner and operator of manufactured housing communities in Canada, through Parkbridge, which offers high-quality, attainable housing across the country.
“The acquisition of a 100% direct interest in these assets accelerates our growth in the U.S. manufactured housing sector with an established operator and a high-quality portfolio,” said Daniel Gliksman, Managing Director at QuadReal. “QuadReal is a leading provider of housing globally and this acquisition demonstrates our conviction in the living sector and our commitment to expanding our residential offering.”
This acquisition builds on QuadReal’s USD $3.6B U.S. multifamily portfolio. The firm’s high-conviction investment strategy and international experience have established QuadReal as a top 20 real estate investor globally. Presently, QuadReal’s global residential portfolio is valued at USD $20.9B and consists of over 90,000 units, with 17,000 units located in the U.S.
About QuadReal Property Group
QuadReal Property Group is a global real estate investment, operating and development company headquartered in Vancouver, British Columbia. Its assets under management are CAD $85 billion. From its foundation in Canada as a full-service real estate operating company, QuadReal has expanded its capabilities to invest in equity and debt in both the public and private markets. QuadReal invests directly, via programmatic partnerships and through operating platforms in which it holds an ownership interest.
QuadReal seeks to deliver strong investment returns while creating sustainable environments that bring value to the people and communities it serves. Now and for generations to come.
QuadReal: Excellence lives here.
Media Contact
Hannah Wanlin
QuadReal Property Group
416-881-5129
[email protected]