Quebec Pension JV Boosts Bets on US Apartments, Student Housing
Prospective renters wait outside to enter an apartment unit during an open house in Brooklyn in 2022.
Photographer: Bess Adler/BloombergThis article is for subscribers only.
Quebec’s public pension manager and commercial real estate firm Walker & Dunlop Investment Partners expect to double the size of a joint venture they started nearly three years ago to invest in US housing.
The JV makes preferred equity investments in student housing, manufactured housing and multifamily properties. For the Caisse de Depot et Placement du Quebec, it’s part of a broader strategy to diversify its real estate portfolio, which was once overloaded with office and retail properties.