Paul Weiss-Led Tricon launches $ 5 billion real estate JV

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Law360 (19 Jul 2021 3:12 pm ET) – submitted by Paul Weiss Rifkind Wharton & Garrison LLP, Tricon Residential Inc. of Canada detailed plans for Monday to set up a $ 5 billion real estate joint venture that will seek to buy about 18,000 one-bedroom apartments. houses for family rent in the Sun zone of the USA.

Tricon said in a joint statement that the venture members are Texas Teachers’ Pension System, Pacific Life Insurance Co. and a third unnamed investor. The investment company is the successor to the previous joint venture SFR JV-1, which bought more than 9,000 homes, it said in a statement.

“We are delighted to partner with three leading investors to launch …

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