Ivanhoé Cambridge Invests $150M With Mount Auburn Multifamily

Ivanhoé Cambridge is expanding its relationship with Mount Auburn Multifamily by investing $150 million of preferred equity directly into the company. As part of the investment, Ivanhoé Cambridge will join the board of Mount Auburn and gain exposure to a diversified portfolio of multifamily properties.

Ivanhoé Cambridge and Mount Auburn first teamed up in June 2021 to launch a programmatic joint venture. This JV is aimed at providing developers with an easy path to capitalizing projects in cities with housing shortages.

“This investment from Ivanhoé Cambridge was the next natural evolution in expanding our partnership and we welcome the global perspective that Ivanhoé Cambridge will bring to our board,” said Daniel Pearson, SVP at Mount Auburn.

Mount Auburn’s investment strategy is focused on Millennial migration to secondary markets exhibiting low-cost, business friendly environments, high population growth and low cost of living. Mount Auburn’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, DC suburbs.

“We continue to view U.S. multifamily as an attractive asset class and this investment into Mount Auburn allows us to gain exposure into a portfolio that contains more than 10,000 units in markets that are well-positioned for durable growth,” says Charles-Antoine Lussier, Ivanhoé Cambridge senior vice president.