Hines Makes First Build-To-Rent Acquisition in U.S.
Hines, a global real estate investment manager, has acquired Blu South, a build-to-rent community in Pineville, NC. This marks their first BTR acquisition in the U.S., reflecting confidence in the growing sector and the Charlotte market. Blu South, spanning 75+ acres, will offer 551 homes upon completion, with 341 already delivered. With strategic location and diverse amenities, Blu South aims to meet the demand for attainably priced, amenitized living. HUSPP, Hines’ flagship core-plus fund, sees this as a long-term investment aligned with demographic trends.
Bottom Line:
Hines’ acquisition of Blu South underscores its commitment to tapping into the burgeoning build-to-rent market in Charlotte.
Neal's take
It was delightful to see that non-U.S. based global real estate investment managers are now buying BTR communities. Hines is a mega investment firm that is focused on a state (NC) and market (Charlotte) that we see great potential in. We are closely watching these kinds of properties are refining our business plan by learning from them.