Ivanhoé Cambridge and Mount Auburn Multifamily Form Investment JV

Ivanhoé Cambridge and Mount Auburn Multifamily have formed a programmatic joint venture to invest in preferred equity for ground-up multifamily developments throughout the country. In a context where the lack of housing can be an issue in some cities, the venture is aimed at providing an easy path for developers to complete capital structures and bring more housing to market.

“Partnering with Ivanhoé Cambridge is a transformational relationship that allows Mount Auburn to capitalize on the explosive demand growth in secondary markets that we have seen for over a decade,” says Matt Pavlovich, executive vice president for Mount Auburn. “This is only the beginning for our partnership together.”

The partnership will further Mount Auburn’s existing investment strategy focused on Millennial migration to secondary markets exhibiting low-cost, business-friendly environments, high population growth and low cost of living. The partnership’s primary target markets include Atlanta, Austin, Charlotte, Columbus, Dallas/Fort Worth, Denver, Houston, Indianapolis, Jacksonville, Louisville, Nashville, Orlando, Phoenix, Raleigh, Salt Lake City, San Antonio, Tampa and Washington, D.C. suburbs.

“U.S. multifamily continues to offer compelling returns for Ivanhoé Cambridge and the partnership with Mount Auburn provides us with an opportunity to diversify our U.S. multifamily portfolio into markets that are well-positioned for durable growth,” said Charles-Antoine Lussier, Ivanhoé Cambridge senior vice president.