AECOM Capital and Canyon Partners LLC have launched a joint venture focused on investing in large-scale, institutional-quality real estate development projects. The new platform intends to partner with development firms and provide equity for more than $4 billion in assets.

AECOM-Canyon Partners will seek out investments in the top 25 U.S. markets and will invest in multifamily, mixed-use, office, hospitality, and condominiums. It will offer design, construction management, and engineering expertise, as well as balance sheet support for its development partners.

“We believe that this venture represents a truly unique combination of AECOM’s commercial real estate development expertise and Canyon’s 27 years of investment experience,” said AECOM’s Chairman and Chief Executive Officer Michael S. Burke (pictured above right).

Already, the venture has committed more than $65 million of equity capital in three investments, worth roughly $730 million. The projects include a full service, 250-key hotel in Menlo Park, CA, a 525-unit multifamily project in the NoMa submarket of Washington, D.C., and a mixed-use project in Los Angeles.

“It is becoming increasingly challenging in the current environment for developers to capitalize and create the Class-A, large-scale assets these core buyers are seeking,” said Canyon’s Co-Founder, Co-Chairman, and Co-CEO Josh Friedman (pictured above left).

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