Market Overview

GTIS Partners and Cortland Partners Form Joint Venture; Acquire 912 Multi-Family Rental Units in Texas and Florida


("GTIS"), a real estate investment firm headquartered in
New York with offices in São Paulo, San Francisco, Los Angeles, Atlanta,
Paris and Munich, and Cortland
, an Atlanta-based, vertically integrated multifamily
investment and management firm, today announced their first joint
venture. Simultaneously, the firms announced they have closed on two
multi-family properties, one in Dallas and the other in Orlando.

In aggregate, the JV portfolio comprises more than 900 rental units in
recently-constructed Class A garden-style multifamily communities. Both
are in high-growth markets offering direct access to local employment

David Pahl, Managing Director at GTIS Partners, noted: "This investment
supports our continued fund strategy of acquiring high-quality income
producing properties in the top growth markets around the US." Amit
Rind, Director at GTIS Partners, added: "Given that these are
well-located assets that are benefitting from strong submarket growth
dynamics and that we are partnering with Cortland Partners, who we
consider one of the leading operators in the multi-family sector, we are
very excited about this investment."

Mike Altman, Chief Investments Officer at Cortland Partners, stated:
"Demographics in the areas surrounding both developments are very
strong, with median home prices exceeding $1 million and myriad
employment opportunities. Amazon and KPMG are building new facilities in
Lake Nona, adjacent to the Orlando community, Cortland Jubilee Park, and
the area surrounding the Dallas community, Cortland Waters Edge, is home
to five Fortune 500 global headquarters, including ExxonMobil and

About the Properties

Cortland Waters Edge is located at the intersection of the Las
Colinas, Irving and Farmer's Branch submarkets in one of Dallas' premier
suburban locations, approximately 20 minutes northwest of Downtown
Dallas. The Las Colinas/Irving employment hub is one of the
best-established and dynamic job centers in the Dallas-Fort Worth MSA,
home to five Fortune 500 global headquarters and more than 100,000
employees. The property provides direct access to major highways and
transportation hubs, offering convenient commutes throughout the MSA,
including the Dallas CBD and Legacy Business Park in Plano.

The property was built in two phases between 2014 and 2016, and features
a total of 582 units in 22 three-story buildings, with two clubhouses, a
full suite of amenities and 977 parking spaces. The property contains a
mix of one-, two- and three-bedroom units, and each unit has a balcony
or private patio.

Cortland Jubilee Park is located in the Southeast/Airport
submarket of Orlando, approximately 20 minutes southeast of Downtown
Orlando. The property's location provides direct access to the
employment centers surrounding Orlando International Airport as well as
convenient access to Lake Nona, a major medical and educational job
growth center, Downtown Orlando, and the Orlando theme parks and resorts.

The immediate Lee Vista Center neighborhood is approximately 2,000 acres
and features some two million square feet of office space, four million
square feet of industrial space and a retail footprint of one million
square feet.

The property was built in 2015 and features 330 units in 21 two- and
three-story buildings with a clubhouse, a full suite of amenities, and
711 parking spaces. The property has a mix of one-, two-, and
three-bedroom units and features spacious, well-designed units, with
high quality finishes and amenities.

About GTIS Partners

GTIS Partners is a global real estate investment firm headquartered in
New York with offices in Los Angeles, San Francisco, Atlanta, São Paulo,
Brazil, Paris, France and Munich, Germany. GTIS Partners was founded in
2005 and is managed by President Tom Shapiro and Senior Managing
Directors Josh Pristaw, Rob Vahradian, Tom Feldstein, João Teixeira and
Amy Boyle. GTIS Partners has 94 employees and approximately $4.7 billion
of gross real estate assets under management. The firm pursues real
estate investments through direct equity investment and lending
activities. To date, the firm has committed capital to residential,
retail, industrial, office, hotel and mixed-use projects in the U.S. and
Brazil, and is among the largest real estate private equity companies in
Brazil. For more information, please visit

About Cortland Partners

Cortland Partners is a global, multifamily real estate investment firm
that leverages proprietary design and build supply chains with in-house
construction, property, and facilities management services to unlock
value in high-growth U.S. markets. Headquartered in Atlanta, GA,
Cortland owns and manages over 45,000 apartment homes across the U.S.
with regional offices in Charlotte, Dallas, Denver, Houston, and
Orlando. Cortland also houses a global materials sourcing office in
Shanghai, China and an international development office in London, U.K.
Cortland Partners is a National Multifamily Housing Council (NMHC) Top
50 Owner and Manager and is ranked among Atlanta's "Top 25 Largest
Workplaces" (2018). For more information, please visit

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