National Pension Service of Korea and Hines Form New Build-to-Core Venture in RE

Posted on 12/10/2020

The National Pension Service of Korea (NPS) and Hines created a new build-to-core venture in real estate. The US$ 1.5 billion equity joint venture will pursue urban infill developments across a broad span of sectors including mixed-use, residential, office ,and logistics in high-barrier-to-entry markets globally. Twenty percent of the venture is currently committed to projects in North America and Asia-Pacific.

The venture targets a build-to-core strategy to create a portfolio of prime assets resilient to market uncertainties.

In addition to being a co-investor in the partnership with NPS, Hines will be responsible for sourcing, designing, and executing development opportunities globally. NPS and Hines have previously partnered on investments across product types and strategies in Europe and North America, with collaborations including Sony Center in Berlin, One Vanderbilt, and One Madison in New York.

Keywords: Hines Group.

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