Partners Group cooperates with StoryBuilt
The Partners Group, headquartered in Zug, has founded a joint venture with the Texan urban developer StoryBuilt. It is expected to fund real estate projects in Austin, Dallas, Denver and Seattle with $ 1 billion over the next four to seven years.
The Partners Group , a global manager of private market investments, has partnered with the Texan real estate developer StoryBuilt , according to a press release . Both have formed a joint venture with a capitalization of $ 1 billion. It will fund 17 of StoryBuilt's existing projects as well as future acquisitions and developments in the most dynamic American cities of Austin, Dallas, Denver and Seattle.
Projects include apartment buildings, condominiums, and mixed-use properties. "The Partners Group offers StoryBuilt a strong future in which we can accelerate our growth and steadily increase our property acquisitions and developments," said co-founder Anthony Siela in the press release.
Scott Egarian, executive board member of Private Real Estate Americas at Partners Group, sees “strong thematic investment opportunities in the housing market in growth cities” for his company. The housing shortage there “should support demand in the years to come. We believe StoryBuilt has the right offer. "