Bouwinvest Real Estate Investors and MacFarlane Partners to invest $750 million into NY and LA

By Dale Benton

A newly formed joint venture has been created to own and operate newly buil residential high-rises in New York and Los Angeles with a value just shy of $1bn.

Dutch institutional investor Bouwinvest Real Estate Investors and US real estate investment management and development firm, MacFarlane Partners have joined forces to invest $750 million into residential high rises.

Two investments will be made, one a partial equity interest in Level BK, a 40-story rental apartment tower along Brooklyn’s Williamsburg waterfront in New York and full ownership of the 24-story Park Fifth high-rise rental apartment project that is currently under construction in downtown Los Angeles.

Gijs Plantinga, Bouwinvest’s Director of Northern America Investments, said: “The new joint venture with MacFarlane Partners is the spearhead for Bouwinvest’s strategy of expanding its investments in North America through co-investments and joint ventures as we target lifting our assets under management in these markets to €1.5 billion by 2020. The residential sector with its positive market fundamentals, driven by U.S. population growth, sits at the center of this core investment strategy.”

 

Related stories:

Amcor is set to acquire US packaging company Bemis in a $6.8bn all-stock transaction

Cisco set to complete $2.35bn Duo Security acquisition

Boeing secures $3.9bn contract to build two new Air Force One jets

 

To date, Macfarlane Partners has $13 billion in properties located in urban and high-density suburban neighbourhoods of major metropolitan areas nationwide.

Victor B. MacFarlane, chairman and chief executive officer of MacFarlane Partners, said: “We have helped create a generation of institutional-grade, core properties in major urban markets such as New York, San Francisco, Los Angeles and Washington, D.C. Now we and Bouwinvest will look to benefit from the income and appreciation gains that long-term ownership of high-quality assets located in top-tier U.S. markets can deliver.”

Share

Featured Articles

How Elon Musk pulled off a $44bn hostile takeover of Twitter

As the world’s richest man, Elon Musk, takes over tech giant Twitter, we highlight the timeline that led to this titanic takeover

Amazon, Alphabet, Wells Fargo best workplaces, says LinkedIn

The top 50 workplaces to grow careers prioritise flexible work and tuition-support programs, as top-ranking firms Amazon and Alphabet prove, says LinkedIn

Top 10 women in technology in the US

These 10 women in tech are forging a path into bold areas of innovation and technological ambition, according to sister publication Technology Magazine

8 executive moves to crypto – from mainstream to startup

Technology & AI

Digital Twins tech ‘missing link’ in urban decarbonisation

Technology & AI

The Metaverse Foundry from Infosys is a business playground

Technology & AI