Hines and Cadillac Fairview have announced the intention to team up for the acquisition and development of $1.5 billion worth of build-to-rent (BTR) assets in Australia.

While Hines is an internationally-renowned investor, Cadillac Fairview is the real estate arm of the Ontario Teachers’ Pension Plan. The intention to build property in Australia is the first time the company has invested on the continent.

Both Hines and Cadillac Fairview hope to develop, own and operate first-class, purpose built BTR residences, which 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," says Hines’ Chief Investment Officer for Asia, Chiang Ling Ng.

“Both Hines and Cadillac Fairview recognize Australian BTR as one of the most exciting growth opportunities in Asia.”

hines cadillac fairview btr south melbourne

Cadillac Fairview’s Senior Vice-President Investments Asia Pacific, Karl Kreppner, says the Canadian company is intent on expanding its property portfolio with high quality BTR developments in Australia.

“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,” he says.

“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 located close to transportation, employment hubs, diverse retail offerings and entertainment centres. The developments will deliver tailored amenity offerings and will reflect the ESG convictions of both companies on a local and international scale.

“Hines and Cadillac Fairview have seen the attractive long-term defensive nature of the asset class through their international portfolios,” says 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.”

Jarrod Reedie

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