Cortland Now The Largest DFW Apartment Owner After $1.2B Purchase

Multifamily investment and development firm Cortland acquired Pure Multi-Family REIT and its portfolio of 22 apartment communities for $1.2B this past week. 

Cortland picked up more than 7,000 units from the Canadian REIT in the Sun Belt cities of Dallas-Fort Worth, Houston, Austin, San Antonio and Phoenix.  The deal pushes Cortland's portfolio of owned and managed apartments to more than 60,000 nationwide and makes it the largest apartment owner in DFW, the company said. 

Atlanta-based Cortland spent this past year in heightened growth mode with the firm acquiring $3.7B worth of multifamily properties, or 20,639 total units, since the start of 2018.