Hines, the international real estate firm, has acquired a 30,000-square-meter portfolio of eight prime sites in France, across Paris and key regional cities, to develop a series of Build to Rent (B2R) residential schemes, on behalf of the Hines Pan-European Core Fund (HECF).
In total, the sites will provide 500 units of high-quality living space across five prime locations in Paris and three regional cities in France. The assets are located in undersupplied residential markets, each with close links to public transport and surrounded by local amenities.
HECF will forward fund the delivery of the projects, having agreed a partnership with Kaufmann & Broad (K&B), the leading France-based publicly listed real estate construction company. K&B will lead the development of the properties. The acquisition represents HECF’s first entry into the French residential market.
Source : Company