Hines and QuadReal Tie Up on European Housing Venture
Posted on 02/07/2020
Real estate management firm Hines inked a deal with QuadReal Property Group, the real estate unit of British Columbia Investment Management Corporation (BCI). The venture involves constructing build-to-rent housing, student accommodation, and serviced apartments across Europe. The venture seeks to grow the portfolio over a 12- to 18-month period. The geographic focus for assets will include France, Italy, Germany, Spain, the Nordic region, the Netherlands, and core U.K markets ex-London. The joint venture will be funded with €500 million of equity and with using leverage have a capital capacity of €1.25 billion.