**Corebridge, CBRE IM Recapitalize $670M Class A Multifamily Portfolio**
Corebridge Real Estate Investors (CREI) has completed the recapitalization of a joint venture valued at $670 million. While financial terms were not disclosed, the transaction includes six Class A multifamily properties totaling 1,990 units, which currently boast a 95% occupancy rate.
As part of the recapitalization, CBRE Investment Management has joined the venture as a new institutional partner, taking a 44.5% ownership stake alongside CREI. The high-quality apartment communities are located across several key U.S. metro areas—including Los Angeles, Denver, St. Louis, Boston, Tampa, and Orlando.
Doug Tymins, president and CEO of CREI, commented on the new partnership:
“We are delighted to welcome our new partner in this significant recapitalization. CBRE Investment Management brings deep experience and a long-term perspective to the venture. This portfolio of Class A apartments represents a compelling opportunity to deliver strong returns through strategic management and targeted enhancements.”
The transaction was facilitated by JLL Securities, LLC, with legal counsel provided by Gibson Dunn and Crutcher, LLC.
*Pictured: Baldwin Harbor apartments in Orlando.*
