Atlanta, GA – November 12,
2015—CBRE announced it will
offer a 12-property multifamily portfolio for NorthStar Realty Finance that
spans six U.S. states and nine metros.
NorthStar assets are located primarily in the Sunbelt states with properties in
Georgia, Florida, Tennessee, Texas, Arizona, and Pennsylvania. The NorthStar
Portfolio’s mix of primary and secondary markets should be especially
attractive to investors at a time when some gateway market returns are
portfolio assets have significant in-place performance with total
year-over-year income growth of 6.9% in August. Approximately 70%t of the
portfolio’s 4,514 units also have value-add potential, a factor that will allow
investors to engineer higher yields.
portfolio is an opportunity to secure a critical mass of value-add suburban
property in well-performing markets. The suburban B value-add space is
extremely desirable right now based on sustainable fundamentals,” said Malcolm McComb, Vice Chairman, CBRE.
Realty is making the disposition as part of a broader strategy to focus on its
larger segments. NorthStar Realty Finance Corp. is a publicly-traded,
diversified commercial real estate company that is organized as a
About CBRE Group, Inc. CBRE Group, Inc.
(NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles,
is the world’s largest commercial real estate services and investment firm (in
terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates),
and serves real estate owners, investors and occupiers through more than 400
offices (excluding affiliates) worldwide. CBRE offers strategic advice and
execution for property sales and leasing; corporate services; property,
facilities and project management; mortgage banking; appraisal and valuation;
development services; investment management; and research and consulting.
Please visit our website at www.cbre.com.