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Press release content from PR Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from PR Newswire
Press release content from PR Newswire. The AP news staff was not involved in its creation.

RREAF Holdings Announces Closing of TransCoastal 21 Portfolio

November 11, 2021 GMT
RREAF
RREAF
RREAF

DALLAS, Nov. 11, 2021 /PRNewswire/ -- RREAF Holdings LLC, a private real estate investment and development firm based in Dallas, today announced the acquisition of their TransCoastal 21 multifamily portfolio. The portfolio includes 21 different multifamily properties consisting of over 4,000 units located in Mississippi, Alabama, Florida, Texas, Arkansas, Louisiana, Georgia and North Carolina.

RREAF’s multifamily division bought the properties from three different sellers. According to the National Multifamily Housing Council, the multifamily sector of the commercial real estate space continues to show resilience and strong results. RREAF continues to be active in this sector with over 7,400 units acquired since the onset of the pandemic including the Sunbelt 12 portfolio it closed last December. RREAF Holdings, through its acquisitions and dispositions department, has also closed over $1.3 billion in transaction volume in less than a year.

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“The closing of the TransCoastal 21 portfolio marks an exciting milestone for our firm, as we have increased our portfolio of affordable housing to over 50 complexes with more than 14,000 units throughout the Sun Belt region of the United States,” said Kip Sowden, Chief Executive Officer of RREAF Holdings. “The closing of the portfolio exemplifies our continued success and commitment to securing quality affordable housing across the Sun Belt region of the U.S. We would like to extend a thank you to our partners, DLP Capital and 3650 REIT, on the closing of this complex portfolio. Our team looks forward to upgrading these properties consistent with our investment strategy which has proven highly successful.”

“RREAF’s in-house property management company, RREAF Residential, is managing 16 of the 21 assets while RREAF’s partner, DLP Real Estate Management, is managing five of the newly acquired assets,” said Graham Sowden, Director of Acquisitions at RREAF.

The TransCoastal 21 portfolio is a group of properties that range in vintage from 1960s to new construction. Both RREAF and DLP work hard to create the highest quality, affordable living solutions for residents in the rapidly growing Sun Belt region of the U.S.

To learn more about RREAF, please visit rreaf.com.

About RREAF Holdings LLC

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RREAF Holdings LLC (“RREAF”) is a privately held, vertically integrated commercial real estate company based in Dallas, with roots that go back nearly 35 years in the industry. RREAF focuses its portfolio of commercial real estate projects and development under five main divisions aimed primarily at catering to middle America with its programmatic value-add multifamily acquisitions, opportunistic hospitality and resort acquisitions, core ground-up development, large highly amenitized highly programmed master planned developments and it’s ground-up extended stay hospitality development division. RREAF employs over 350 people, mostly across the Sun Belt region, handling a wide range of commercial real estate investment matters, including in-house underwriting/due diligence, capital markets, acquisition, asset management, property management, construction management, project development, accounting and legal support. RREAF, along with its debt and equity partners, has built a diversified portfolio in its core competencies in excess of $2.5 billion in assets under management. RREAF’s mission is to enhance the lives of its investors, partners, property residents and guests by providing outstanding service, excellence and expertise with integrity, vision, values and purpose. For more information, please visit RREAF.com.

THIS PRESS RELEASE SHALL NOT CONSTITUTE OR BE CONSTRUED AS AN OFFER OR SOLICITATION FOR THE SALE OF ANY SECURITY. INTERESTED PARTIES ARE DIRECTED TO THE COMPANY’S WEBSITE, AND SPECIFICALLY TO THE PAGES DEDICATED TO THE SUBJECT TRANSACTION, FOR MORE INFORMATION. THE OFFER OF SALE FOR THE SUBJECT SECURITIES IS AND WILL BE MADE ONLY THROUGH THOSE PAGES OF AND THE OFFERING DOCUMENTS PROVIDED ON THE COMPANY’S WEBSITE.

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SOURCE RREAF Holdings LLC