PFA Pension Forms Joint Venture with Simpson Housing LLLP/Domain Capital Group LLC
MARCH 2020
PFA Pension has completed a joint venture with Simpson Housing LLLP (“Simpson”) and Domain Capital Advisors LLC (“Domain”), a subsidiary of Domain Capital Group LLC, to acquire a 49% equity interest in a 13-asset, Class A multifamily portfolio for an aggregate value of $1.05 billion (the “Portfolio”). The Portfolio was previously owned 100% by Simpson and is located across high-growth markets throughout the U.S., including Austin, Charlotte, Denver, Houston, Nashville, Phoenix, Portland and Seattle. The Portfolio, comprised of 3,487 units was approximately 6 years old and over 95% leased at closing. The Portfolio serves a mix of urban and suburban lifestyles with both newly-built and refurbished product offerings in proximity to transportation infrastructure.
Simpson Housing LLLP will serve as the property manager of the Portfolio on behalf of the joint venture. Domain Capital Advisors LLC will provide oversight and asset management to the joint venture. Domain has been managing the assets of the Simpson portfolio for over ten years. Terms of the transaction were not disclosed.
Accord Capital Partners LLC served as the exclusive financial advisor in connection with this transaction.
ABOUT PFA PENSION
PFA Pension was founded in 1917 as an independent company by a number of labor organizations, with the sole purpose of ensuring a financially secure future for the employees and their families. Today, PFA has approximately 1.2 million individual customers from a wide range of the largest companies and organizations in Denmark. For further information on PFA, visit: pfa.dk.
ABOUT SIMPSON HOUSING LLLP
Simpson Housing LLLP is a national, fully-integrated real estate development and portfolio management firm. Primarily focused on the multifamily market, Simpson builds and operates high-quality, residential communities throughout the United States. As one of the largest privately held residential developers and managers in the nation, it is organized to deliver a comprehensive range of real estate services – including development, property management, construction, acquisition, marketing and financing. Simpson Property Group is a wholly owned subsidiary of Simpson Housing, providing services in multifamily and commercial property management. For further information on Simpson, visit: simpsonhousing.com.
ABOUT DOMAIN CAPITAL GROUP LLC
Atlanta-based Domain Capital Group, LLC provides comprehensive private investment management services, through its registered investment advisor subsidiaries, to institutions, public and private pensions, corporations, foundations, endowments, and high-net-worth individuals. Domain Capital Group’s investment professionals are experienced across a diverse range of asset classes and investment strategies, including real estate, natural resources, media, entertainment, technology, and credit and other financial services. As of December 31, 2019, Domain managed approximately $6.1 billion in total assets (comprised of approximately $5.6 billion in securities portfolios and approximately $470 million in real estate), among Domain Capital Advisors, LLC and Domain Timber Advisors, LLC. Please refer to each registered investment advisor’s most recent Form ADV for additional details. For further information on Domain, visit: domaincapitalgroup.com.
ABOUT ACCORD CAPITAL PARTNERS LLC
Accord Group Holdings LLC (“Accord”), through its affiliates, is a global capital advisor and principal investor. With its headquarters in San Francisco and personnel in Chicago, London, Hong Kong and Seoul, Accord engages with a wide variety of participants in the real estate private equity industry. Accord Capital Partners LLC, its broker/dealer affiliate, provides advisory and capital raising services in the United States. For further information on Accord, visit: accord-group.net.
