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.
