Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
CEDARst, Quartz Lake Target Multifamily with JV Investment Fund
CEDARst Companies and Quartz Lake Capital, both headquartered in Chicago, have formed a strategic joint venture investment fund to target infill multifamily development opportunities. The JV will invest $300 million of equity capital in target markets across the U.S., a level of equity that translates into a a gross multifamily development portfolio of approximately $1 billion.
“The timing of this transaction could not have been better,” said Will Murphy, CEDARst’s CEO. “Cedar’s ongoing national expansion will be accelerated through this partnership with Quartz Lake Capital amid a period of tremendous demand for rental housing.”
CEDARst currently manages a portfolio of multifamily real estate in excess of $1.5 billion, totaling more than 5,000 units across several markets, including Chicago, San Diego, Portland, Minneapolis and Cleveland. The JV will target Class A development projects ranging in size from $75 to $125 million and located in infill urban target markets.
Pictured: CEDARst’s The Draper in Chicago.
- ◦Sale/Acquisition
- ◦Development


