Behind the Deal: CEO of Atlanta's Cortland Discusses $1.2B Apartment Acquisition

With the acquisition of Pure Multi-Family REIT for $1.2 billion, Atlanta-based Cortland has moved from being the third largest multifamily unit owner in North Texas to the first.

Cortland, which is a multifamily real estate investment, development and management company, added 22 properties and more than 7,000 units to its 60,000 apartments nationwide as part of the deal announced Friday. Of the 22 properties, 11 of them fall within North Texas, representing 3,985 total units. 

CEO and co-founder Steven DeFrancis was on a work trip scouting out various other properties in Dallas to add to Cortland’s portfolio when he was reached for a Q&A interview about what the acquisition means for Cortland, how the deal will affect the newly acquired properties and what's next in North Texas.