SINGAPORE (Sept 21): CapitaLand is acquiring a portfolio of 16 multi-family properties in the US West Coast and Denver region for US$835 million ($1.14 billion).
The portfolio consists of 3,787 apartments with about 1,000 units in each cluster at an average price of US$220,000/unit. The average occupancy is over 90% and the average length of stay is two years. The acquisition is scheduled to be completed in 4Q18.
