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Burstone Group has entered a joint venture with Hines European Real Estate Partners III (HEREP III), with the partners committing EUR 160 million in equity to a new investment platform. The partnership reflects Burstone's strategy to expand its fund and investment management activities alongside global institutional investors. HEREP III, a Europe-focused value-add real estate fund managed by Hines, targets opportunities across sectors such as logistics, residential, and office properties. The collaboration is expected to help both firms scale investments across European markets while leveraging Burstone's asset management capabilities and Hines established investment platform and investor network.
Burstone Group Ltd has entered into a joint venture with Hines European Real Estate Partners III (HEREP III), with both partners committing a combined equity investment of EUR 160 million to establish a new real estate investment platform. Advertisement
The partnership is expected to support the acquisition and management of assets across Europe. HEREP III is a closed-ended real estate fund managed by global investment firm Hines, which focuses on value-add opportunities across key European markets including logistics, office and residential sectors. The fund has raised more than EUR 1.6 billion in equity commitments from institutional investors worldwide and is among the larger European value-add real estate vehicles in recent years.
Burstone's participation in the joint venture reflects its strategy to grow its international fund and investment management platform through partnerships with global capital providers. The group has increasingly focused on expanding third-party capital platforms while maintaining selective co-investment positions in assets it manages.
The company operates across South Africa, Europe and Australia and has been repositioning its business model over the past few years from a traditional property owner to an integrated real estate investment and asset management platform. The group manages significant property assets across multiple markets and has been building partnerships with global investors to scale its international portfolio.
Recent transactions illustrate this approach. Burstone earlier partnered with global asset manager Blackstone on a pan-European logistics platform valued at more than EUR 1 billion, retaining a minority investment while continuing to manage the assets. The portfolio includes logistics properties across major European markets such as Germany, France and the Netherlands.
Hines, which manages the HEREP III fund, is a global real estate investment, development and property management firm with operations in about 30 countries. Its European real estate strategies focus on acquiring and improving assets in sectors where demand remains strong, including urban logistics, residential living and sustainable office developments.
Through the new joint venture platform, Burstone and HEREP III intend to pursue similar value-creation opportunities across selected European markets, combining Hines investment expertise with Burstone's asset and investment management capabilities.
Source Reuters
5th Jun, 2025
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