Invesco Real Estate and multifamily leader Bozzuto have partnered on a joint venture to pursue investments across key East Coast markets. The $330 million real estate investment program has an overall investment capacity of approximately $1 billion.
“Performance is our top priority when investing on behalf of our clients, and this venture is anticipated to capitalize on recovering market fundamentals focusing on assets possessing multiple value-creation levers,” noted Greg Kraus, managing director and head of U.S. transactions for Invesco Real Estate, the $85 billion global real estate investment platform of Invesco. “We’re happy to expand our relationship with Bozzuto on this joint venture that will leverage our time-tested investment process and their operational capabilities.”
The joint venture has acquired its first multifamily community—the 220-unit Enders Place in the Baldwin Park neighborhood of Orlando, Florida. According to the firms, Bozzuto Management plans to implement unit enhancements as well as elevate the resident experience.
“We are pleased to partner with Invesco Real Estate on this program, which positions us to expand purposefully across the East Coast and acquire assets that align with our rigorous investment standards and operational capabilities,” said Bozzuto president and CEO Toby Bozzuto. “The capital and partnership framework provides the financial flexibility and strategic alignment necessary to navigate evolving market conditions, allowing us to act decisively on opportunities that advance our long-term growth objectives and commitment to investors and the communities we serve.”
