Ivanhoé Cambridge and Veritas Investments acquire 16 residential properties in San Francisco for approximately US$200M

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Ivanhoé Cambridge and Veritas Investments announced today the acquisition of 16 multiresidential properties in San Francisco, for approximately US$200 million. The acquisition continues the execution of a residential property aggregation strategy in San Francisco via the firms’ exclusive partnership created in 2014. The partners now jointly own a total of 45 properties, averaging 30 residential housing units per building, including many with ground-floor retail facilities. All are located across San Francisco’s most unique and desirable neighbourhoods, such as Lower and Upper Nob Hill, Russian Hill, NOPA, Noe Valley, Duboce Triangle, Alamo Square, Mission Dolores and North Panhandle. false false false The walkable infill neighbourhoods of San Francisco, representing a range of housing options, are exhibiting the low vacancy rates and demographic factors that support long-term demand. While the San Francisco Bay Area has seen increased construction of commercial real estate, its development-constrained marketplace tends to favour local neighbourhood character and existing properties. false false false About Ivanhoé Cambridge Ivanhoé Cambridge, a global real estate industry leader, invests in high-quality properties and companies in select cities around the world. It does so prudently with a long-term view to optimize risk-adjusted returns. Founded in Quebec in 1953, Ivanhoé Cambridge has built a vertically integrated business across Canada. Internationally, the Company invests alongside key partners that are leaders in their respective markets. Through subsidiaries and partnerships, Ivanhoé Cambridge has direct or indirect interests in over 160 million ft2 (approx.15 million m2) of office, retail and logistics properties as well as in more than 23,000 multiresidential units. Ivanhoé Cambridge held more than Cdn$48 billion in total assets as at June 30, 2015. The Company is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), one of Canada's leading institutional fund managers. For further information: ivanhoecambridge.com About Veritas Investments, Inc. San Francisco-based Veritas Investments, Inc. is one of the largest owners and operators of multifamily, urban retail and mixed-use properties in San Francisco and the Bay Area. Vertically integrated, the firm and its affiliates number over 150 employees in property management, leasing, project management, redevelopment, accounting, asset management, financing and investment management. For further information: veritasinvestments.com