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Slate Asset Management has agreed to acquire a six-property, 1,600-unit multifamily portfolio for $226.5 million. The properties in the portfolio are located in rapidly growing Sun Belt markets across Arizona, Florida and Georgia.

“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,” said Peter Tsoulogiannis, partner and CIO at Slate. “We have strong conviction in the long-term demand for housing, and despite macro volatility, our investment philosophy remains unchanged; we continue to focus on acquiring below replacement cost with below-market in-place rents in order to generate meaningful cash flow growth.”