January 22, 2016 Comments Off on Ivanhoé Cambridge-Veritas JV Adds 16 Properties with $200M Acquisition Views: 524 Bay Area, California News

Ivanhoé Cambridge-Veritas JV Adds 16 Properties with $200M Acquisition

A joint-venture between Ivanhoé Cambridge and Veritas Investments has reportedly acquired 16 multifamily properties in San Francisco. The $200-million investment is consistent with the firms’ residential property aggregation strategy that began two years ago.

The JV now owns a total of 45 properties, averaging 30 residential housing units per building, typically with ground-floor retail facilities. The properties are located across San Franciscos “walkable infill neighborhoods,” such as Lower and Upper Nob Hill, Russian Hill, NOPA, Noe Valley, Duboce Triangle, Alamo Square, Mission Dolores and North Panhandle.

Veritas’ founder and CEO Yat-Pang Au says, “San Francisco Bay Areas ecosystem of technology and innovation companies, its university and education centers, and its quality of life create a strong magnet for todays mobile workforce, which is ultimately our resident base.”

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