Institutional Multifamily Partners LLC ("IMP"), (formerly known as Western Multifamily LLC), a discretionary equity co-investment joint venture between affiliates of GID and California Public Employees' Retirement System (“CalPERS”), was formed in 2010 through the consolidating acquisition of three existing and separate multifamily investment portfolios. IMP’s objective is to achieve superior risk-adjusted investment returns for its partners through the active portfolio management of its existing apartment communities and the investment and development of apartment communities throughout the United States. The establishment of IMP continues and expands the successful relationship GID has enjoyed with CalPERS since 1998.
As of June 30, 2016, the Institutional Multifamily Partners portfolio consisted of 52 real estate investments (including 8 development projects under construction) totaling 14,639 apartment units. In addition, 19 properties have retail and commercial space totaling 591,167 square feet.
GID continues to seek multifamily acquisition and development opportunities on behalf of IMP that meet its investment objectives.
GID, which made a significant equity co-investment in the consolidated portfolio, serves as portfolio and asset manager, and through Windsor Property Management Company, its property management affiliate, as property manager.
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