>

>

Hines and Ontario Teachers' Pension Plan acquire two Brisbane build-to-rent assets for AUD350 mil

By Nicholas Lam

/ EdgeProp Singapore |

October 1, 2024 4:07 PM SGT

The 265-unit building located at 13-17 Cordelia Street in South Brisbane is expected to be completed next year. (Photo: Hines)

Global asset manager Hines has partnered with Ontario Teachers’ Pension Plan to acquire two built-to-rent (BTR) assets in Brisbane totalling 354 units. The deal is said to be valued at A$350 million ($311.8 million).

The first property is an 89-unit building located at 28 Robertson Street in Fortitude Valley that was completed in October 2021. The second property is a 265-unit building located at 13-17 Cordelia Street in South Brisbane. The building is expected to be completed next year.

Hines will provide asset management services for both properties and Arklife, a specialised BTR platform, will continue to act as property manager.

Read also: Hines, Mitsubishi Estate and MBK acquire Senoko Loop logistics property

“With the Australian population expected to see continued growth and consumer preferences in the country moving towards the rental sector, we see strong, long-term potential in the Australian multi-family market,” said Jun Ando, head of Asia Pacific real estate, at Ontario Teachers’ Pension Plan, in an Oct 1 press release.

David Warneford, country head of Australia and New Zealand at Hines, adds: “Hines sees tremendous potential in Australian BTR for both investors and residents. It’s poised to offer stable cash flow and income growth while helping to meet the demand for quality rental housing in the country.”

The transaction was brokered by Stuart McCann, head of capital advisors in Southeast Asia at CBRE, and Andrew Purdon, regional director of living sectors and capital markets at CBRE.

Tags:

Hines Ontario Teachers’ Pension Plan BTR

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Bukit Sembawang’s 8@BT is 53% sold on launch weekend at an average price of $2,719 psf

2

Sean Chua: From HDB to landed within four years by age 35

3

October 2024 BTO Part 2: Eight projects in the suburbs

4

Is it a Good Deal?: $1.08 million for a four-room HDB flat in Ang Mo Kio

5

Is it a Good Deal?: $838,000 for a three-room HDB flat along Holland Drive

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00