Cases & Deals

Stepstone affiliate forms joint venture to acquire multifamily properties in Georgia and Florida

Clients StepStone Group LP

Jones Day advised SRE Island – Investco, LLC (“Stepstone”), an affiliate of Stepstone Group Real Estate LP, in connection with the formation of, and an initial equity investment of approximately $59.1 million in, a joint venture (the “Joint Venture”) with affiliates of Cortland Partners, LLC and Clarion Partners LLC for the acquisition, by purchase of equity interests, of three multifamily apartment communities in Georgia and Florida (the “Properties”).  We also represented Stepstone in connection with mortgage loans made to subsidiaries of the Joint Venture by the Guardian Life Insurance Company of America for the purchase of the Properties in an aggregate amount of approximately $127.6 million.