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California  + Apartments  | 

DivCore, ICONIQ Target $2.5B of Class A Multifamily Acquisition and Development

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. 

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Inside The Story

DivcoWest's Shiff

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
  • ◦Development
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