Slate to Acquire 1,600-Unit Multifamily Portfolio for $227M
By Isabelle Durso July 8, 2025 12:51 pm
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Slate Asset Management is making moves in multifamily.
The global investment and asset management firm announced Tuesday it has agreed to acquire a six-property, 1,600-unit multifamily portfolio from ZMR Capital for $226.5 million.
The portfolio — which includes properties in Florida, Georgia and Arizona — is “well occupied,” with “long-term growth potential through mark-to-market rent increases,” according to Slate’s announcement.
The garden-style apartments in the portfolio are near the Tampa, Atlanta and Phoenix metro areas, and are close to grocery stores and other “essential goods and service providers,” the announcement said.
ZMR will stay involved as an operating partner for the portfolio, Slate said. The transaction is expected to close at the end of this month.
“We are pleased to announce our latest investment in the multifamily real estate sector — a performing portfolio of defensive assets with attractive fundamentals serving essential needs in markets with strong demographics,” Peter Tsoulogiannis, partner and chief investment officer at Slate, said in a statement.
“We have strong conviction in the long-term demand for housing, and despite macro volatility, our investment philosophy remains unchanged,” Tsoulogiannis added. “We continue to focus on acquiring below replacement cost with below-market in-place rents in order to generate meaningful cash-flow growth.”
Law firm King & Spalding advised Slate in the deal, while it was unclear who represented the seller. Spokespeople for ZMR and King & Spalding did not immediately respond to requests for comment.
The deal comes during “highly favorable supply-demand dynamics” for Slate, as new housing construction starts decrease and demand for rental options increases amid current policies, according to the announcement.
News of the acquisition also comes after Slate bought a mixed-use residential and commercial building at 2283 Third Avenue in East Harlem for $28.3 million in February, as Commercial Observer previously reported.
Isabelle Durso can be reached at idurso@commercialobserver.com.
