Ontario Teachers’ Pension Plan, Hines acquire BTR portfolio in Australia

Ontario Teachers’ Pension Plan (Ontario Teachers’) and Hines, a global real estate investment manager, have completed the acquisition of two build-to-rent (BTR) assets in Brisbane totaling 354 units.

The acquisition aligns with Ontario Teachers’ Real Estate’s Living strategy in Australia, which targets amenity-rich assets in vibrant submarkets close to transportation links, employment hubs and entertainment centers. The assets comprise:

28 Robertson Street in Fortitude Valley: Robertson is an operational 89-unit BTR asset. The building was completed in October 2021 and stabilized within six months of operations. Robertson’s ESG features include the usage of renewable energy, stormwater recycling, high-performance acoustic glazing and low-energy LEDs. 13–17 Cordelia Street in South Brisbane: Cordelia is a 265-unit premier BTR asset that is expected to reach practical completion in first quarter 2025. Cordelia will deliver top-of-the-line ameni