Le mie ricette per la real estate communityHines, the international real estate firm, and global investment firm QuadReal Property Group Limited (“QuadReal”) have entered into a joint venture partnership to establish a new living-focussed programmatic joint venture targeting BTR (build to rent) properties, student accommodation and serviced apartments across continental Europe and regional UK markets.
Hines and QuadReal have an existing global relationship, working together on projects predominantly in the U.S and Mexico. This joint venture represents the first European partnership between the two firms, where they will be targeting a total investment volume of €500m equity, and €1.25bn when factoring in leverage.
The joint venture will build a portfolio over a 12 to 18-month period, focusing on France, Germany, Italy, Spain, the Netherlands, the Nordics and the core UK regional markets outside London.
Hines and QuadReal will together pursue strategic developments, re-developments and selected forward funding opportunities in major cities where economic and demographic trends are supportive of long-term value appreciation and sustainable investment. Through a combination of BTR properties, student accommodation and serviced apartments, the joint venture aims to deliver highest risk-adjusted returns for the most suitable product in each target city and sub-market.
Source : Hines