This week, RXR announced a new $500M strategic discretionary separate account with the North Carolina Investment Authority (“NCIA”) to provide structured equity solutions for over $2 billion of high-quality residential development and transitional real estate projects across the United States. Investments will be made via RXR’s Capital Solutions Platform, which is designed to provide flexible, bespoke capital solutions to sponsors, leveraging RXR’s vertically integrated development, construction, and operating platform. The partnership is seeded by a $64.25 million structured equity investment in a 327-unit luxury multifamily community located within “PV Phoenix,” the mixed-use redevelopment of the former Paradise Valley Mall in Phoenix, AZ. The project is being developed by RED Development, a fully integrated commercial real estate company based in Phoenix. The community will feature spacious residences, premium finishes, and extensive amenities, including direct access to a newly developed athletic and wellness club. Construction commenced in October 2025, with anticipated completion in 2027.
