Kaufman & Broad (K&B), the French listed real estate company, is thought to have brought forward to the market another Build-to-Rent (BTR) residential portfolio.
The second tranche in France comes after the company revealed in February the sale of a first batch of 500 developable units to US firm Hines for an undisclosed value. Market participants suggest the Hines investment was in the region of €300 mln.
According to sources, the second portfolio is of a similar size and bids are expected to be submitted within days.
As previously reported, K&B sold to Hines a 30,000 m2 portfolio of eight prime sites in France across Paris and key regional cities to develop a series of Build to Rent residential schemes. The investment was made on behalf of the Hines Pan European Core Fund (HECF) and represented the company’s first foray into the BTR sector in France.
Subscribers can read details of K&B's sale to Hines here.
