Bouwinvest, which invests internationally on behalf of Dutch pension fund BpfBouw, has entered the Canadian residential real estate market through a partnership with Woodbourne Capital.
Bouwinvest Real Estate Investors said it has created the build-to-green-core living venture with the residential specialist to invest C$125m (€85m) in well-located mid or high-rise multifamily developments.
The Dutch manager said around 50% of the joint venture’s initial equity commitment is being invested in the Yonge & Roselawn mixed-use development at 2400 – 2444 Yonge Street in mid-town Toronto.
Bouwinvest has been active in North America since 2010 and opened a new international office in New York in 2020.
The manager said the expansion into Canada is in line with the diversification strategy of Bouwinvest’s North America mandate.
Gijs Plantinga, director North American investments at Bouwinvest, said: “We’ve long eyed the Canadian market and see its residential-for-rent sector as particularly attractive because of the country’s growing demographics and economic outlook and the favourable supply/demand characteristics of its residential markets.
“Now that local legislative hurdles have been removed, we are ready to increase our exposure to Canada.”
To read the latest edition of the latest IPE Real Assets magazine click here.