{"id":308515,"date":"2022-03-15T22:16:20","date_gmt":"2022-03-15T14:16:20","guid":{"rendered":"https:\/\/www.mingtiandi.com\/?p=308515"},"modified":"2022-08-15T15:02:19","modified_gmt":"2022-08-15T07:02:19","slug":"greystar-nears-first-close-on-apac-multi-family-strategy","status":"publish","type":"post","link":"https:\/\/www.mingtiandi.com\/real-estate\/events\/past-events-real-estate\/greystar-nears-first-closing-of-1b-apac-multi-family-venture\/","title":{"rendered":"Greystar Nears First Closing of $1B APAC Multi-family Venture: MTD TV"},"content":{"rendered":"<div class=\"container-lazyload container-vimeo js-lazyload--not-loaded\"><a href=\"https:\/\/player.vimeo.com\/video\/688284489?h=7fa96e7fef\" id=\"688284489\" class=\"lazy-load-vimeo preview-lazyload preview-vimeo\" data-video-thumbnail=\"https:\/\/i.vimeocdn.com\/video\/1394161019-07cdedc6fa69377347779af5f2c415650056630945974912d067e9075aa59499-d_295x166\" data-video-title=\"Mingtiandi APAC Residential Forum 2022: Spotlight Interview with Greystar and APG\" title=\"Play video &quot;Mingtiandi APAC Residential Forum 2022: Spotlight Interview with Greystar and APG&quot;\">https:\/\/player.vimeo.com\/video\/688284489?h=7fa96e7fef<\/a><noscript>Video can&#8217;t be loaded because JavaScript is disabled: <a href=\"https:\/\/player.vimeo.com\/video\/688284489?h=7fa96e7fef\" title=\"Mingtiandi APAC Residential Forum 2022: Spotlight Interview with Greystar and APG\">Mingtiandi APAC Residential Forum 2022: Spotlight Interview with Greystar and APG (https:\/\/player.vimeo.com\/video\/688284489?h=7fa96e7fef)<\/a><\/noscript><\/div>\n<p>&nbsp;<br \/>\nGreystar is nearing a first close for its $1 billion regional multi-family vehicle targeting Asia Pacific according to one of the US rental housing operator\u2019s top representatives for the region, as major institutions continue to add build-to-rent investments to their portfolios.<\/p>\n<p>Ed Boyd, senior managing director for APAC investment management at Greystar, told <a href=\"https:\/\/www.mingtiandi.com\/residential-2022-spotlight-interview\/\">MTD TV\u2019s APAC Residential Forum on Tuesday<\/a> that his company\u2019s first pan-APAC multi-family strategy will likely achieve its first closing in the coming weeks as total funds committed so far have already reached or potentially surpassed the initial target, which is understood to be $1.05 billion.<\/p>\n<p style=\"text-align: center;\"><div style=\"margin-left: auto; margin-right: auto; text-align: center; \" id=\"mingt-1381136922\"><a data-no-instant=\"1\" href=\"https:\/\/info.altusgroup.com\/apac-altus-valuation\/?utm_campaign=23_AA_APAC_VA_Brand_Mingtiandi-Display-Ads_Website&#038;utm_medium=display-digital&#038;utm_source=&#038;utm_content=Website&#038;sfid=7012M000002m8TN\" rel=\"noopener\" class=\"adv-link\" target=\"_blank\" aria-label=\"Altus - Valuation Management 780x250 Banner\"><img decoding=\"async\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Valuation-management-Mingtiandi-ads-01.png\" alt=\"Altus - Valuation Management 780x250 Banner\"  srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Valuation-management-Mingtiandi-ads-01.png 1560w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Valuation-management-Mingtiandi-ads-01-400x128.png 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Valuation-management-Mingtiandi-ads-01-1024x329.png 1024w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Valuation-management-Mingtiandi-ads-01-1536x493.png 1536w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Valuation-management-Mingtiandi-ads-01-640x206.png 640w\" sizes=\"(max-width: 1560px) 100vw, 1560px\" width=\"780\" height=\"250\"  style=\"display: inline-block;\" \/><\/a><\/div><\/p>\n<p>\u201cIt&#8217;s kind of a unique offering, because I guess to our knowledge, there isn&#8217;t a regional fund investing in the Asia Pacific region focused on rental residential sponsored by a manager with extensive operating experience,\u201d Boyd said. \u201cI guess we&#8217;re very excited to bring this unique venture to the market and we\u2019ll have the ability to invest capital across gateway markets.\u201d<\/p>\n<p>This latest milestone for the global multi-family developer and fund manager approaches as investors continue to warm to APAC\u2019s multi-family market thanks to its proven resiliency and healthy tenant demand, Dominic Doran, director of private real estate for Asia Pacific at Dutch pension fund manager APG Asset Management said at the forum, which was sponsored by Yardi.<\/p>\n<h3>Capital to Be Deployed in Q2<\/h3>\n<p>Boyd said Greystar will begin deploying the funds from its new venture across the region during the second quarter of this year, starting with key markets where the company already has projects, such as China, Japan and Australia. The value-add fund is expected to achieve its final closing by the fourth quarter, according to earlier statements by the company.<\/p>\n\n\t\t<style type=\"text\/css\">\n\t\t\t#gallery-1 {\n\t\t\t\tmargin: auto;\n\t\t\t}\n\t\t\t#gallery-1 .gallery-item {\n\t\t\t\tfloat: left;\n\t\t\t\tmargin-top: 10px;\n\t\t\t\ttext-align: center;\n\t\t\t\twidth: 50%;\n\t\t\t}\n\t\t\t#gallery-1 img {\n\t\t\t\tborder: 2px solid #cfcfcf;\n\t\t\t}\n\t\t\t#gallery-1 .gallery-caption {\n\t\t\t\tmargin-left: 0;\n\t\t\t}\n\t\t\t\/* see gallery_shortcode() in wp-includes\/media.php *\/\n\t\t<\/style>\n\t\t<div data-carousel-extra='{\"blog_id\":1,\"permalink\":\"https:\\\/\\\/www.mingtiandi.com\\\/real-estate\\\/events\\\/past-events-real-estate\\\/greystar-nears-first-closing-of-1b-apac-multi-family-venture\\\/\"}' id='gallery-1' class='gallery galleryid-308515 gallery-columns-2 gallery-size-thumbnail-medium'><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon portrait'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/real-estate\/events\/join-the-mingtiandi-residential-investment-forum-2022\/attachment\/djd_profile-pic\/'><img decoding=\"async\" data-attachment-id=\"304498\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/12\/DJD_Profile-Pic-e1646541319386.jpg\" data-orig-size=\"253,275\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"Dominic Doran, Director, Private Real Estate, Asia Pacific, APG Asset Management\" data-image-description=\"\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/12\/DJD_Profile-Pic-368x400.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/12\/DJD_Profile-Pic-943x1024.jpg\" width=\"250\" height=\"250\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/12\/DJD_Profile-Pic-250x250.jpg\" class=\"attachment-thumbnail-medium size-thumbnail-medium\" alt=\"Dominic Doran, Director, Private Real Estate, Asia Pacific, APG Asset Management\" aria-describedby=\"gallery-1-304498\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/12\/DJD_Profile-Pic-250x250.jpg 250w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/12\/DJD_Profile-Pic-e1646541319386-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/12\/DJD_Profile-Pic-e1646541319386-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/12\/DJD_Profile-Pic-640x640.jpg 640w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/12\/DJD_Profile-Pic-420x420.jpg 420w\" sizes=\"(max-width: 250px) 100vw, 250px\" \/><\/a>\n\t\t\t<\/dt>\n\t\t\t\t<dd class='wp-caption-text gallery-caption' id='gallery-1-304498'>\n\t\t\t\tDominic Doran, Director, Private Real Estate, Asia Pacific, APG Asset Management\n\t\t\t\t<\/dd><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/real-estate\/events\/join-the-mingtiandi-multi-family-investment-forum-2021\/attachment\/ed-boyd\/'><img decoding=\"async\" data-attachment-id=\"233477\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Ed-Boyd.jpeg\" data-orig-size=\"253,253\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"Ed Boyd, Senior Managing Director, APAC Investment Management, Greystar\" data-image-description=\"\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Ed-Boyd.jpeg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Ed-Boyd.jpeg\" width=\"253\" height=\"253\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Ed-Boyd.jpeg\" class=\"attachment-thumbnail-medium size-thumbnail-medium\" alt=\"Ed Boyd, Senior Managing Director, APAC Investment Management, Greystar\" aria-describedby=\"gallery-1-233477\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Ed-Boyd.jpeg 253w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Ed-Boyd-150x150.jpeg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Ed-Boyd-90x90.jpeg 90w\" sizes=\"(max-width: 253px) 100vw, 253px\" \/><\/a>\n\t\t\t<\/dt>\n\t\t\t\t<dd class='wp-caption-text gallery-caption' id='gallery-1-233477'>\n\t\t\t\tEd Boyd, Senior Managing Director, Investment Management, Asia Pacific, Greystar\n\t\t\t\t<\/dd><\/dl><br style=\"clear: both\" \/>\n\t\t<\/div>\n\n<p>With APG, Quebec&#8217;s Ivanhoe Cambridge and other institutions having backed earlier Greystar funds in the region, Boyd said investors in this latest venture include both existing and new partners.<\/p>\n<p>Less than two years after entering the Japanese market through a $278-million joint venture with a Middle Eastern sovereign wealth fund in 2019, the Greystone executive said the South Carolina-based firm continues to see \u201ccompelling opportunity\u201d to acquire multi-family assets with strong cash flow despite increasing competition.<\/p>\n<p>In addition to its Japan strategy, Greystar in 2019 closed its <a href=\"https:\/\/www.mingtiandi.com\/real-estate\/projects\/greystar-to-launch-470-unit-rental-property-in-shanghai\/\">Greystar China Multifamily Venture<\/a> in 2019 with more than $500 million in capital and reached an A$1.3-billion ($930 million) final closing on its <a href=\"https:\/\/www.greystar.com\/about-greystar\/newsroom\/gamv-i-final-close\">Greystar Australia Multifamily Venture I<\/a> in February last year.<\/p>\n<p style=\"text-align: center;\"><a data-no-instant=\"1\" href=\"https:\/\/www.mingtiandi.com\/real-estate\/events\/oxford-ivanhoe-kic-savills-on-singapore-india-markets\/\" rel=\"noopener\" class=\"adv-link\" target=\"_blank\" aria-label=\"14 NOVEMBER 2023 conrad centennial Singapore\"><img decoding=\"async\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore.jpg\" alt=\"\"  srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore.jpg 780w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore-400x128.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore-640x205.jpg 640w\" sizes=\"(max-width: 780px) 100vw, 780px\" width=\"780\" height=\"250\"   \/><\/a><\/p>\n<p>\u201cThe opportunity in markets outside of Japan lies in our ability to reposition or develop purpose-built products that are highly amenitized and come with excellent customer service,\u201d he said. \u201cWe&#8217;ll look to deliver these assets to undersupplied markets, which currently only provide shadow market offerings.\u00a0 The product doesn&#8217;t exist so we&#8217;ve got to get creative.\u201d<\/p>\n<h3>More Capital on the Way<\/h3>\n<p>Investor interest in APAC\u2019s multi-family sector has been rising in recent years as countries beyond Japan have begun developing more robust rental housing markets and governments have rolled out policy support, observed APG\u2019s Doran.<\/p>\n<p>\u201cIt was quite hard for the market to sort of establish itself or to gain entry in the market on a bilateral basis because we really think that policy support is quite important for the sector,\u201d he said. \u201c[But since the policy support has] become more apparent in the last few years, particularly in China and in Australia, the opportunity to make viable returns is now more pronounced than it was 5-10 years ago, which is why I think you&#8217;re seeing more activity now than in previous years.\u201d<\/p>\n<p style=\"text-align: center;\"><a data-no-instant=\"1\" href=\"https:\/\/www.mipim-asia.com\/?utm_source=mingtiandi&#038;utm_medium=barter_website&#038;utm_campaign=mipimasia2023\" rel=\"noopener\" class=\"adv-link\" target=\"_blank\" aria-label=\"AR-607487_Mipim Asia_23_Banner Resize 780&#215;250\"><img decoding=\"async\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/AR-607487_Mipim-Asia_23_Banner-Resize-780x250-1.jpg\" alt=\"\"  srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/AR-607487_Mipim-Asia_23_Banner-Resize-780x250-1.jpg 780w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/AR-607487_Mipim-Asia_23_Banner-Resize-780x250-1-400x128.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/AR-607487_Mipim-Asia_23_Banner-Resize-780x250-1-640x205.jpg 640w\" sizes=\"(max-width: 780px) 100vw, 780px\" width=\"780\" height=\"250\"   \/><\/a><\/p>\n<p>Looking at investment vehicles that closed last year, cash raised for strategies that include multi-family assets in Asia Pacific more than doubled to over $6.6 billion last year compared to the year prior according to figures from real assets data provider Realfin, while the commitments to funds globally that target the sector rose to $68.2 billion.<\/p>\n<p>Both Boyd and Doran expressed optimism regarding growth opportunities in the APAC multi-family sector on the back of strong demand drivers such as urbanisation, rising housing prices and growing demand for professionally managed housing.<\/p>\n<p>\u201cI think it is just a general trend that people do want better service, they do want amenities, they want security of tenure, they want to know that if something breaks down, someone can come quickly to fix it and do it in an efficient manner,\u201d Doran said. \u201cSo these are all common trends that we feel that multifamily as an asset class, you can tap into that and you can really draw some really attractive risk adjusted returns.\u201d<\/p>\n<h3>Residential Forum Continues<\/h3>\n<p>This first episode in MIngtiandi\u2019s <a href=\"https:\/\/www.mingtiandi.com\/real-estate\/events\/join-the-mingtiandi-residential-investment-forum-2022\/\">APAC Residential Forum<\/a> will be followed by two panel discussions focused on multi-family investments in Greater China and Japan next week.<\/p>\n<p>On Tuesday, <a href=\"https:\/\/www.mingtiandi.com\/real-estate\/events\/panel-multi-family-investment-in-greater-china-2022\/\">22 March<\/a> guests LaSalle Investment Management, PGIM Real Estate, Greystar and Weave Living will explore the sector\u2019s future in Greater China while experts from AXA IM Alts, Allianz Real Estate, TE Capital Partners and Tokyo Trust Capital will speak about the Japanese multi-family market on <a href=\"https:\/\/www.mingtiandi.com\/real-estate\/events\/panel-multi-family-investment-in-japan-2022\/\">24 March<\/a>.<\/p>\n<p>On <a href=\"https:\/\/www.mingtiandi.com\/real-estate\/events\/panel-multi-family-investment-in-australia-2022\/\">29 March<\/a>, a panel of experts from firms including Hines and Ivanhoe Cambridge will be discussing multi-family investment in Australia, while the forum will wind up on <a href=\"https:\/\/www.mingtiandi.com\/real-estate\/events\/panel-trends-in-residential-finance-2022\/\">31 March<\/a> with a panel on debt financing opportunities with guests from Phoenix Property Investors, Haitong Securities International and more.<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"container-lazyload container-vimeo js-lazyload--not-loaded\">https:\/\/player.vimeo.com\/video\/688284489?h=7fa96e7fefVideo can&#8217;t be loaded because JavaScript is disabled: Mingtiandi APAC Residential Forum 2022: Spotlight Interview with Greystar and APG (https:\/\/player.vimeo.com\/video\/688284489?h=7fa96e7fef)<\/div>\n<p>&nbsp; Greystar is nearing a first close for its $1 billion regional multi-family vehicle targeting Asia Pacific&#8230;&nbsp;<a href=\"https:\/\/www.mingtiandi.com\/real-estate\/events\/past-events-real-estate\/greystar-nears-first-closing-of-1b-apac-multi-family-venture\/\">Read&nbsp;More>><\/a><\/p>\n","protected":false},"author":12201,"featured_media":308525,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[3456],"tags":[3581,5382,3457,5359,6467,8380,8400,7413,6188],"ppma_author":[8848],"authors":[{"term_id":8848,"user_id":12201,"is_guest":0,"slug":"beatrice-laforga","display_name":"Beatrice Laforga","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/d4be689d8f5a82939d685df6ef171fcb?s=96&d=mm&r=g","user_url":"","last_name":"Laforga","first_name":"Beatrice","description":""}],"_links":{"self":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts\/308515"}],"collection":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/users\/12201"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/comments?post=308515"}],"version-history":[{"count":0,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts\/308515\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/media\/308525"}],"wp:attachment":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/media?parent=308515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/categories?post=308515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/tags?post=308515"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/ppma_author?post=308515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}