TORONTO—Hines has announced the formation of an investment vehicle focused on real estate investment and development opportunities in four Canadian investment markets – Toronto, Vancouver, Montreal and Calgary.
The venture was formed to develop and acquire up to $2 billion of gross asset value, stated a release.
This is the second Canadian-focused investment and development venture sponsored by Hines. The statement said Hines will pursue placemaking investment strategies across diverse asset types including mixed-use developments, differentiated multifamily rental residential communities and hospitality-linked office projects.
Since the launch of its Canadian operations in 2004, Hines has developed, acquired or managed over 14 million square feet of projects representing diverse product types including office, retail, residential and mixed-use. The firm has offices in Toronto, Vancouver, Calgary and Edmonton.
“There are significant opportunities to invest in the highest-quality assets in the Canadian market. The venture will provide us with the flexibility to utilize decades of experience and our relationships to source and execute future-focused investment strategies across the risk spectrum,” said Alfonso Munk, Hines chief investment officer, Americas.