October 28, 2019
AECOM-Canyon Partners reported it closed a fund, hitting a hard cap with more than $500 million in total commitments received. AECOM-Canyon Partners is a joint venture between AECOM Capital and Canyon Partners, LLC.
The platform intends to provide JV equity across some $4 billion of assets with high quality development partners, primarily targeting “build-to-core” investments in the top 25 U.S. markets across all property types, including multifamily, mixed-use, office, hospitality, industrial, and student housing.
AECOM’s Michael S. Burke says, “The overwhelmingly positive response we received in the market underscores the strength of our partnership and the value we can bring to large-scale real estate development.”
Notable investments to-date include Ivy Station, a 519k square foot mixed-use development in Culver City (pictured); Union Place, a 525-unit luxury multifamily project in Washington, D.C.; and Hotel Nia, a 250-key hotel adjacent to Facebook’s headquarters in Menlo Park, CA.
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