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Greystar & Ivanhoé Cambridge partner for Chilean multifamily

Rental housing specialist Greystar and Ivanhoé Cambridge have forming a new joint venture to pursue multifamily real estate opportunities in Chile.

Tom Livelli.

The companies said that their partnership represents the first global institutional capital investment in multifamily real estate in Chile.

Investment in the sector has historically come from local capital and the multifamily asset class is still nascent there.  Greystar said the partnership is an important next step in its strategy to establish a regional investment platform that addresses “the clear and compelling demographic and macroeconomic trends that favour rental housing across Latin America”.

The collaboration is also Ivanhoé Cambridge’s first investment in Chile, which the firm said demonstrates its commitment to diversify its international portfolio further, also increasing its investment in multifamily housing.

The deal extends a collaboration that already operates in a number of countries. Greystar and Ivanhoé Cambridge have previously partnered on a number of North American and international joint venture.

The partnership will be initiated in Chilean capital Santiago.

“Our joint venture with Ivanhoé Cambridge in Chile is a landmark achievement and key indicator of the continued growth and strength of our global strategic alliance as we expand further into international markets,” said Greystar managing director Tom Livelli. “We are opening the door to transform the renter experience in Chile, where we continue to see a bright future and tremendous long-term potential.”

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