The international arm of US real estate investment manager CA Ventures is investing $325m (€295m) to expand its multifamily and student housing presence in Latin America.
In an announcement, CA International said it will specifically invest in the Mexico cities of Monterrey, Mexico City and Merida.
Tony DiBiase, principal of CA International, said: “Latin America continues to be a high-growth region that has attracted investors looking to acquire or develop new rental communities, particularly near major universities as housing preferences evolve.
“As a pioneer of purpose-built student housing in this region, we’ve worked hard to collaborate with local stakeholders and investment partners in each country to bring quality product to market, tailoring each development to the needs of the local student population.”
The CA International business, which was created in 2013, currently has four fully operational projects in Latin America. In Colombia, the firm has two operational projects in Bogotà and one in Barranquilla. The company also has an operational project in Santiago, Chile.
CA International said it has six additional projects in Mexico, Chile and Colombia slated to begin this year.
Launch of a medical office and life sciences division
CA Ventures has appointed Russell Brenner president of a newly created medical office and life sciences division.
The Chicago-based company said the new business plans to invest $500m per year through development and value-add acquisitions across the US.
Tom Scott, CEO of CA Ventures, said: “We’ve been evaluating an entry into the medical office and life sciences space for some time, not only because of strong market demand for healthcare real estate but also because we’re uniquely positioned to leverage synergies with our existing senior housing and student housing verticals, the latter of which has investments near leading academic and research institutions across the country.”
Brenner most recently served as partner at Stage Equity Partners and managing principal at Center Capital.
“The median age of the US population continues to rise, driving up demand for healthcare services, more of which are being provided outside of the traditional hospital setting, said Brenner.
“With total US healthcare expenditures expected to reach upwards of $5.7trn by 2027, market opportunity in the medical office and life sciences space remains strong.”