Henley exits over USD225m of US multifamily assets
Private equity real estate firm Henley investments has sold a total of five US multifamily assets in the first half of 2021, totalling over USD225 million, including Arbor Crest in North Carolina, three housing communities in Las Vegas, and most recently, Hillside Village in California.
Since the acquisition of the properties spanning over the last three years, Henley has implemented a series of renovations and upgrades, which have materially increased the assets’ value and delivered exceptional returns for investors.
Ian Rickwood, Chief Executive Officer of Henley, says: “Our activity in the US makes for a strong investment track record in multifamily asset class and is testament to the forward thinking and opportunistic strategy Henley has in place in the US. As we move through 2021, we look forward to continuing our activity in the US and finding new opportunities for our investors.”
Garrett Solomon, CIO of Henley North America, says: “With the ever-growing importance of providing high-quality affordable housing, our program of upgrades and renovations has been well received and we’ve seen a higher demand for units driving rental rate increases. We continue to focus our acquisition efforts on opportunities like these that can generate a positive social impact and at the same time a compelling return for investors.”