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CEDARst Begins National Expansion Plans on the West Coast
Chicago-based CEDARst Companies continues its national expansion efforts with two ground-up multifamily development projects totaling $144.5 million in San Diego and Vancouver, WA. And, CEDARst is actively looking to expand in a number of new markets, with plans to double its 4,000-unit portfolio in the next three to five years.
Inclusive of these two new projects, CEDARst has announced or begun construction on six deals totaling more than $500 million in Chicago, Minneapolis, Cleveland, San Diego and Vancouver in slightly more than a year. The developments encompass more than 1,300 units.
“In San Diego, the supply and demand metrics are as compelling as any submarket in the country,” says Will Murphy, managing partner and CEO. “San Diego is a major focus for the firm. We want to build 1,000-plus units here in the next five years.”
In recent years, Vancouver has also emerged as a compelling option for residents within the Portland MSA, Murphy adds.
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