Cortland Partners $1.2 billion acquisition of Pure Multi-Family

Overview:

• Real estate investment firm Cortland Partners has acquired Canada-based REIT Pure Multi-Family in a $1.2 billion deal. 
• Pure Multi-Family owns and operates 7,085 apartment units in Texas and Arizona. 
• Lazard acted as financial adviser for Cortland and Scotiabank advised Pure Multi-Family. 
• The transaction is expected to close in the fourth quarter of 2019. 

Kurt Stumpo - US Editor