The week began with some good news in the secondary space, as reports circulated that foreign investors are warming up to US real estate-related assets. Real Estate Investment Trust (REIT) UDR Inc. (UDR) on Monday unveiled a joint venture with leading Islamic bank Kuwait Finance House (KFH), to invest up to $450m in high income multifamily properties. The venture will target class-A assets at least seven years old and with a minimum $20m value. The partners will contribute $180m of equity with a 70% contribution by KFH and a 30% contribution by UDR for a holding period of up to seven years. UDR president and CEO Tom Toomey ()“opportunistic times.” () “This venture is a continuation of KFH group strategy that focuses on the real economy and we are optimistic that it will add value to all parties involved including our partners, clients, and shareholders especially since we are targeting an area of the market we are familiar with,” said KFH CEO Mohammad Sulaiman Al-Omar in a UDR corporate statement. “KFH is keen on working with experienced partners such as UDR with the current focus being on income producing assets.” The announcement comes as reports emerged Monday that China Investment Corp (CIC) may invest up to $2bn in US mortgages through the government’s Public-Private Investment Program (PPIP). The investment managers China Investment Corp is discussing the transaction with include BlackRock, Invesco, Marathon Asset Management, Trust Company of the West and Wellington Management Co., according to a report filed at Reuters. Write to Diana Golobay. Disclaimer: The author held no relevant investments when this story was published.