North America-based real estate developers Hines Interests and Cadillac Fairview will jointly buy and develop up to A$1.50 billion ($965 million) of assets in the Australian build-to-rent (BTR) sector, the companies said on Wednesday.
The investment will be the first by Canada-based Cadillac Fairview, the real estate arm of Ontario Teachers’ Pension Plan, in the country and the region, where U.S.-based Hines Interests is strengthening its presence as investor interest picks up.
