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Phase 3 Real Estate Partners and Bain Capital Real Estate are the developers behind Genesis Marina, a 570,000-square-foot life science campus in Brisbane.
The recent spike in lumber prices has added nearly $36,000 to the price of an average new single-family home and $119 more a month to rent a new apartment.
The venture is adding 1,889 new single-family homes to its portfolio, with $496 million in the contract process and closing and another $ 1 billion in the pipeline.