Greystar Real Estate Partners and Ivanhoé Cambridge have formed a new partnership to pursue multifamily real estate opportunities in Chile.

The companies plan to develop and acquire multifamily projects starting in Chile’s capital and largest city, Santiago.

The partnership represents the first global institutional capital investment in multifamily real estate in Chile and also marks the first investment of Ivanhoé Cambridge in Chile.

Ivanhoé Cambridge, the real estate subsidiary of the Caisse de dépôt et placement du Québec, and Greystar have over the years partnered on multiple North American and international joint ventures.

Tom Livelli, managing director at Greystar, said the joint venture with Ivanhoé Cambridge in Chile is a ”landmark achievement and a key indicator of the continued growth and strength of our global strategic alliance as we expand further into international markets”.

Adriano Mantesso, managing director, head of Latin America at Ivanhoé Cambridge, said: “We’re delighted to launch this new investment strategy in Chile and to diversify our portfolio in Latin America. We believe in the growth potential of the residential rental market in major cities across the region, increasingly attracting global institutional capital and meaningfully transforming the renter experience.

”We are very excited to once again join Greystar as an early mover in delivering the next generation of rental housing communities in a new market and contribute to setting new standards in resident services and community design for the people of Chile.”

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