Wednesday, 2 November 2022 – Hines, the global real estate investor, investment and development manager and Cadillac Fairview (CF), the real estate arm of the Ontario Teachers’ Pension Plan, today announced the formation of a partnership with the capacity to develop and acquire up to AUD 1.5 billion of assets in the Australian Build-to-Rent (BTR) sector.
Leveraging both Hines’ and Cadillac Fairview’s global expertise in the residential sector, the partnership aims to develop, own, and operate best-in-class, international-caliber, purpose-built BTR assets across Australia and will be seeded by three BTR 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 recognize 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 U.S., 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 centers. The developments aim to deliver tailored amenity offerings which reflect both partners’ strong ESG convictions, both locally and globally.
“Hines and Cadillac Fairview have seen the attractive long-term defensive nature of the asset class through their international portfolios,” said Sam Bisla, managing director and head of living, Australia at Hines. “We have been strategically building a portfolio and are expecting to scale up the BTR portfolio in the short term, and the scale of the partnership shows a huge strategic commitment and belief in the opportunities which BTR presents,” he added.
Hines is a global real estate investment, development and property manager. The firm was founded by Gerald D. Hines in 1957 and now operates in 28 countries. We manage a $92.3B¹ portfolio of high-performing assets across residential, logistics, retail, office, and mixed-use strategies. Our local teams serve 634 properties totaling 225 million square feet globally. We are committed to a net zero carbon target by 2040 without buying offsets. To learn more about Hines, visit www.hines.com and follow @Hines on social media.
¹Includes both the global Hines organization as well as RIA AUM as of June 30, 2022.
About Cadillac Fairview
Cadillac Fairview is a globally focused owner, operator, investor, and developer of best-in-class real estate across office, residential, logistics, life sciences and mixed-use asset classes. As the real estate arm of Ontario Teachers' Pension Plan, which has net assets of $242 billion, CF currently manages in excess of $42 billion of assets.
Internationally, Cadillac Fairview invests in communities with like-minded partners, including Stanhope and Long Harbour in the UK, Lincoln Property Company in the U.S., Hines in Asia and Multiplan in Brazil. The company's Canadian portfolio comprises 68 landmark properties, including the Toronto-Dominion Centre, CF Toronto Eaton Centre, Tour Deloitte, CF Carrefour Laval, CF Chinook Centre and CF Pacific Centre.
Continually striving to make a positive impact in communities where it operates by promoting social connection, growth, and a sustainable future, Cadillac Fairview’s purpose is Transforming Communities for a Vibrant Tomorrow. Visit www.cadillacfairview.com for more information.
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