Tricon, ASRS to partner in U.S. Sun Belt real estate investments
Tricon Capital Group has agreed to partner with Arizona State Retirement System (ASRS) in investments in master-planned communities and the development of single-family build-to-rent communities in the U.S. Sun Belt. The US$450-million joint venture will be capitalized by a US$400 million commitment from ASRS and a US$50 million commitment from Tricon. Tricon, which will source and manage investment opportunities, said it intends to offer two master-planned communities to seed the partnership. Tricon, a Canadian real estate private equity firm, in June closed a US$1.4 billion acquisition of a portfolio of U.S. multi-family properties.
17 September 2019•3 mins read
