Value-Add

The chief investment officer of the Americas says Hines’ new tactical opportunities fund is just one avenue to achieving its bold target for AUM growth.

With structural changes in the economy, more properties in the region need repositioning through the use of technology, conversion or upgrade to a higher environmental standard.

Retrofitting existing assets to meet current ESG or tenant requirements will call for managers to raise new pools of capital.

The US multifamily specialist previously raised three country-specific funds in the region targeting Japan, Australia and China.

The healthcare specialist has hired InfraRed’s former chief investment officer in Asia to lead the new real estate platform.

The New York-based firm’s Asia value-add series, known for its strategic evolution, is shifting into non-traditional property types.

The firm has also closed US multifamily debt funds totaling more than $3bn this year.

The firm has recently ventured into the country’s logistics sector by acquiring three logistics properties for $240 million.

The Los Angeles-based firm has appointed a new head of China logistics to take on Matthew Yao’s responsibilities.

China Investment Corporation, Future Fund and National Pension Service of Korea are among the backers of the firm’s 10th opportunistic real estate fund.