Hines, the global real estate investor, investment and development manager and Cadillac Fairview, the real estate arm of the Ontario Teachers’ Pension Plan, announce a new partnership with the capacity to develop and acquire up to A$1.5bn of assets in the Australian Build to Rent sector.
“Hines has been investing in living assets across Asia for over 25 years, with recent acquisitions including co-living assets in Hong Kong and residential assets in Japan, most recently through its diversified investment fund, Hines Asia Property Partners (HAPP0). Both Hines and Cadillac Fairview recognise Australian Build to Rent as one of the most exciting growth opportunities in Asia.”
Chiang Ling Ng, Chief Investment Officer, Hines Asia
Leveraging both Hines and Cadillac Fairview’s global expertise in the residential sector, the partnership aims to develop, own, and operate Build to Rent assets across Australia, and will be seeded by three Build to Rent development sites.
“The residential sector is a key area of focus for Cadillac Fairview globally, and we are pleased to be investing in the sector in Australia alongside Hines. This investment aligns with our strategic objective of expanding our investment portfolio in Asia by forming partnerships with best-in-class operators and developers in attractive asset classes, such as residential, office and logistics. It also complements our global residential portfolio, which includes large active pipelines across the US, Europe and Canada.”
Karl Kreppner, Senior Vice President, Investments, Cadillac Fairview Asia-Pacific
Hines and Cadillac Fairview’s investment strategy will focus on projects located in submarkets close to transportation, employment hubs, retail offerings and entertainment centres. The developments aim to deliver tailored amenity offerings that reflect both partners’ ESG convictions, locally and globally.
“Hines and Cadillac Fairview have seen the attractive long-term defensive nature of the asset class through their international portfolios. We have been strategically building a portfolio and are expecting to scale up the Build to Rent portfolio in the short term, and the scale of the partnership shows a huge strategic commitment and belief in the opportunities which Build to Rent presents.”
Sam Bisla, Managing Director and Head of Living, Hines Australia
