Australia: Real estate company Hines and Cadillac Fairview (CF), the real estate arm of the Ontario Teachers’ Pension Plan, have partnered to develop and acquire up to AUD $1.5 billion of assets in the Australian BTR sector.
The partnership aims to develop, own, and operate purpose-built BTR assets across Australia and will be seeded by three development sites.
“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 (HAPP),” said Chiang Ling Ng, chief investment officer for Asia at Hines. “Both Hines and Cadillac Fairview recognise Australian BTR as one of the most exciting growth opportunities in Asia,” she added.
Karl Kreppner, senior vice president, Investments Asia Pacific at Cadillac Fairview said: “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.”
The partnership’s investment strategy will focus on projects located “in vibrant submarkets close to transportation, employment hubs, diverse retail offerings and entertainment centres”. The developments aim to deliver tailored amenity offerings which reflect both partners’ strong ESG convictions, both locally and globally.
