Global residential real estate manager Node has entered a €300m joint venture with Intriva Capital to expand its platform across Western Europe.
Node said the initial Intriva equity capital will be used to target development sites and existing buildings. Node will also seeks to manage and co-invest in projects with third party owners and developers.
Anil Khera, founder and CEO of Node and a former managing director, said: “Raising capital from institutional investors in such an uncertain time is a great testament to the Node team and business model we have created over the past four years.
“We are excited about our significant expansion plans and creating a new standard for urban apartments in increasingly unaffordable cities.”
David White, partner at Intriva Capital, said: “We are excited to assist Node in its next phase of growth in Europe. The team has the right mix of entrepreneurial spirit and institutional expertise to become a leader in the next generation of apartment asset managers.”
To read the digital edition of the latest IPE Real Assets magazine click here.