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Greystar starts partnership for rental housing construction in Germany and Austria with a project development volume of €1b
Investors - JUNE 22, 2021

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Greystar starts partnership for rental housing construction in Germany and Austria with a project development volume of €1b

by Andrea Zander

Greystar Real Estate Partners has entered into a new “develop-to-core” venture with a global institutional investor that focuses on the financing, planning and construction of residential houses concentrated throughout Germany and Austria. The goal is a gross development value (GDV) of €1 billion ($1.2 billion).

The new company will build a diversified portfolio of multifamily houses in institutional-quality cities, such as Berlin, Frankfurt, Hamburg, Munich and Vienna. The aim is to develop high-quality projects in various urban locations, each with a size of more than 100 residential units, including urban-renewal projects and district design. The projects are to be carried out on the basis of forward funding, forward purchase or as a new building development.

Each asset will feature a range of high-quality, sought-after services and use Greystar's market-leading management platform, which focuses on excellent customer experience and provides residents with 24/

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