Greystar, Macquarie Forge Asia-Pacific Pact

‘We intend to build the leading rental residential company” within the region’s major cities, says Faith.

CHARLESTON, SC—Greystar Real Estate Partners plans to branch out into Asia multifamily in collaboration with Macquarie Capital, the corporate advisory, capital markets and principal investing arm of Macquarie Group. The two companies said Tuesday they have signed a letter of intent to jointly form and capitalize a new Asia-Pacific rental housing platform, which would be known as Greystar Asia-Pac. Deal terms were not disclosed.

The proposed joint venture between Greystar and Macquarie Capital would be Greystar’s and the two companies’ exclusive platform in the rental residential space in the Asia-Pacific region. Initial investment opportunities are being evaluated and anticipated to include assets in the Tokyo, Beijing, Shanghai, Sydney and Melbourne markets.