L&G Asset Management Expands U.S. Multifamily Holdings With Massachusetts Project

L&G Asset Management is expanding its footprint in the United States multifamily real estate market after financing its first new residential construction project in Concord, Massachusetts, Bisnow reported. Construction on the project officially began last month, following the initial investment transaction completed in August. The United States is a country located primarily in North America. [1][2]

According to Bisnow, the London-based investment firm is actively searching for additional multifamily acquisition deals despite a broader pullback across the property sector. Prior to funding the Massachusetts project, L&G Asset Management entered the U.S. multifamily market by purchasing existing residential buildings in Chicago and Denver last year. [1]

Bisnow reported that development activity in the U.S. multifamily sector has slowed significantly as real estate investors contend with elevated interest rates, rising construction costs, and stagnant rental prices. Tim Watson serves as the head of U.S. investments for L&G Asset Management, which seeks to take advantage of the reduced market competition. [1]

The investment firm plans to capitalize on the general lack of industry activity to acquire more residential assets across the United States. L&G Asset Management aims to grow its total U.S. portfolio while macroeconomic conditions continue to constrain competing developers and property buyers. [1][2]