Exporting Apartments: Our Rental Model is Gaining Fans in Global Markets
- Sep 26, 2014
All eyes were on Brazil as it prepared to host the 2014 FIFA World Cup with events in several cities. Getting ready was a massive undertaking and a dress rehearsal for the 2016 Olympic Games in Rio de Janeiro (hopefully these preparations will go more smoothly).
After the games, the new Olympic village will provide additional housing stock for that local community. But the country’s shortage of adequate low-income and workforce housing (sound familiar?) will require a much larger gesture by the country’s urban planners and government. Brazil’s thought leaders are ready and U.S. developers and architects are poised to see what interesting housing solutions emerge. Some will seek joint venture opportunities with local experts in order to get in on the action.
In the Global Issue of MHN Magazine, Executive Editor Keat Foong talks to multifamily experts about how to seize opportunities in offshore markets (“Finance & Investment: Joint Ventures,” page 20). According to Jeffrey W. Baker, executive managing director, Savills, some of the opportunities in global markets can be huge and on a scale that is unheard of in the U.S.—not one apartment tower, but a whole city.
“They are building 10 towers at the same time. Most projects happening [in China] are mini-cities…” Baker thinks that to not participate in these staggeringly large markets is a mistake. What do you think?
Greystar’s Bob Faith has entered the student housing sector in the U.K., acquiring 21 assets (6,900 beds) from The Opal Group during the first quarter of 2013. Greystar will invest heavily in these assets as well as an additional three London-based assets (1,100 beds) that closed in May. In Executive Insight (“Global Investment Pays,” page 6), we feature MHN’s interview with Faith who explains why Greystar is eager to be in the U.K.’s student housing market. For more insights on the best places for multifamily investment, don’t miss Market Report (“Global Hot Spots,” page 24). Latin America, Asia Pacific, Europe… where will you take the plunge?