Asia Capital Real Estate (ACRE) has earned $145m (€133m) from the disposal of four multifamily communities across the US Southeast, according to the firm’s founding partner Michael Van Der Poel.
Last week, New York-based ACRE announced the sale of the four multifamily communities in separate deals to US investors for an undisclosed sum.
Collectively, the portfolio, which includes The Palms at Palisades, Mount Vernon and Williamsburg Village in Florida, Foxfire Apartments in Durham, North Carolina, and Concord Crossing in Smyma, Georgia, offered 900 residential units.
“ACRE has been actively investing in the Southeast (of the US) for nearly a decade, as we recognised the migration patterns and potential for rent growth across the region,” said Van Der Poel, founding partner of the firm.
He told IPE Real Assets: “The group of dispositions that our firm realised totalled approximately $145m.”
He added: “All ACRE investments are from funds, and we only sell properties when we believe we can get the best returns on behalf of our investment partners.”
In addition to its US footprint, Van Der Poel said ACRE was an active investor in Asia, recently launching HOMA, a rental housing venture with partner NOON Capital, a Thai multi-family developer.
ACRE was dedicated to bringing quality rental housing properties to markets across Asia, he said. “Our first two ventures are the 505-unit HOMA Phuket Town, and the 422-unit HOMA Cherngtalay.” These are located in the tourist resort town of Phuket in South Thailand.
The firm is planning a third project, HOMA Sri Racha, in Chonburi province, and has flagged its intention to invest more than $250m in Asia over coming years.
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