The National Pension Service of Korea (NPS) and Hines have formed a new build-to-core venture to capture evolving demands of modern spaces across real estate.
The $1.5 billion equity joint venture will pursue urban infill developments across a broad span of sectors, including mixed-use, residential, office, and logistics in high-barrier-to-entry markets globally. About 20 percent of the venture is currently committed to projects in North America and Asia Pacific.
The venture targets a build-to-core strategy to create a portfolio of prime assets resilient to market uncertainties. NPS and Hines believe that long-term investments in proven locations, supported by innovation and new technology, will capture sustained demand and create outsized value — which form the strategic investment focus of the partnership.
In addition to being a co-investor in the partnership with NPS, Hines will be responsible for sourcing, designing and executing development opportunities
