DivCore Capital has launched a new residential investment platform, Sentral Strategic Partners, alongside ICONIQ and Sentral that is designed to invest in Class A multifamily acquisitions and development across major U.S. markets. The platform expects to pursue approximately $2.5 billion of multifamily investment opportunities over time, with sponsor co-investment on a deal-by-deal basis.
Sentral, launched five years ago with ICONIQ as its sponsor, will leverage its national footprint managing institutional multifamily properties in major markets to serve as the operating partner for properties acquired or developed by the platform. As part of the partnership, DivCore has made a strategic investment in Sentral and Richie DeBeikes, DivcoWest’s head of residential investments, has joined Sentral’s board.
“This platform allows us to vertically integrate our growing multifamily business by combining institutional capital with a fully aligned multifamily operating platform in a way that we believe is meaningfully differentiated,” said Stuart Shiff, CEO of DivcoWest, DivCore Capital’s equity platform.
The post DivCore, ICONIQ Target $2.5B of Class A Multifamily Acquisition and Development appeared first on Connect CRE.