Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Barings and Foulger Pratt Close Acquisition of $50+ Million Build-to-Rent Community in Raleigh, NC By: Barings via Business Wire October 18, 2023 at 09:00 AM EDT Latest transaction builds on Barings’ $12.5+ billion* U.S. real estate equity platform Barings, one of the world’s largest diversified real estate investment managers, today announced its joint venture with Foulger Pratt to acquire a 172-unit build-to-rent (BTR) community in the Raleigh, N.C. metropolitan area. The $50+ million acquisition marks Barings’ entrance into the BTR market and builds on the firm’s $12.5+ billion* U.S. real estate equity platform. The transaction brings Foulger Pratt’s BTR portfolio to 700 homes and approximately $250 million in investment across North Carolina and Maryland. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231018955604/en/Barings and Foulger Pratt Close Acquisition of $50+ Million Build-to-Rent Community in Raleigh, NC (Photo: Business Wire) “We believe build-to-rent is one of the fastest growing segments of the housing market given demographic trends, evolving consumer preferences, and a national housing shortage,” said Joe Gorin, Barings’ Head of U.S. Real Estate Equity. “We are excited to partner with the well-established team at Foulger Pratt on our first BTR acquisition and look forward to deploying more capital into attractively priced assets as we scale our capabilities in this segment.” “Foulger Pratt is excited to continue its investment in the Carolinas through the delivery of quality rental housing in partnership with Barings – one of the world’s leading investment managers,” said Cameron Pratt, Chief Executive Officer of Foulger Pratt. The community will consist of 89 townhomes and 83 single-family detached units situated on 39 acres in Wendell, N.C. – just east of Raleigh. The initial deliveries of homes are expected to be available for lease in H1 2024. “We anticipate strong job, population, and household growth in this emerging submarket and believe this property will be well-positioned to offer an affordable rent alternative, a high quality of life, as well as easy access to key employment centers and top-tier universities,” said Kevin Miller, Barings’ Head of Real Estate Acquisitions, Eastern U.S. Barings has been investing in U.S. real estate equity for nearly 30 years and today has $35.5 billion* in U.S. real estate AUM across equity and debt, with nearly 130 dedicated real estate investment professionals across six U.S. offices managing more than 550 assets. About Barings Barings is a $351+ billion* global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment. * Assets under management as of June 30, 2023 About Foulger Pratt Foulger Pratt was founded in 1963 with the vision to develop exceptional real estate alongside our employees, residents, partners, and investors. Since then, FP has become a national company that has developed, constructed, and managed more than 15 million square feet of residential and commercial projects. FP takes pride in its strong company culture that values honesty, integrity, and mutual respect in every aspect of its business. For more information, visit www.foulgerpratt.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20231018955604/en/Contacts MediaRelations@barings.com Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Barings and Foulger Pratt Close Acquisition of $50+ Million Build-to-Rent Community in Raleigh, NC By: Barings via Business Wire October 18, 2023 at 09:00 AM EDT Latest transaction builds on Barings’ $12.5+ billion* U.S. real estate equity platform Barings, one of the world’s largest diversified real estate investment managers, today announced its joint venture with Foulger Pratt to acquire a 172-unit build-to-rent (BTR) community in the Raleigh, N.C. metropolitan area. The $50+ million acquisition marks Barings’ entrance into the BTR market and builds on the firm’s $12.5+ billion* U.S. real estate equity platform. The transaction brings Foulger Pratt’s BTR portfolio to 700 homes and approximately $250 million in investment across North Carolina and Maryland. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231018955604/en/Barings and Foulger Pratt Close Acquisition of $50+ Million Build-to-Rent Community in Raleigh, NC (Photo: Business Wire) “We believe build-to-rent is one of the fastest growing segments of the housing market given demographic trends, evolving consumer preferences, and a national housing shortage,” said Joe Gorin, Barings’ Head of U.S. Real Estate Equity. “We are excited to partner with the well-established team at Foulger Pratt on our first BTR acquisition and look forward to deploying more capital into attractively priced assets as we scale our capabilities in this segment.” “Foulger Pratt is excited to continue its investment in the Carolinas through the delivery of quality rental housing in partnership with Barings – one of the world’s leading investment managers,” said Cameron Pratt, Chief Executive Officer of Foulger Pratt. The community will consist of 89 townhomes and 83 single-family detached units situated on 39 acres in Wendell, N.C. – just east of Raleigh. The initial deliveries of homes are expected to be available for lease in H1 2024. “We anticipate strong job, population, and household growth in this emerging submarket and believe this property will be well-positioned to offer an affordable rent alternative, a high quality of life, as well as easy access to key employment centers and top-tier universities,” said Kevin Miller, Barings’ Head of Real Estate Acquisitions, Eastern U.S. Barings has been investing in U.S. real estate equity for nearly 30 years and today has $35.5 billion* in U.S. real estate AUM across equity and debt, with nearly 130 dedicated real estate investment professionals across six U.S. offices managing more than 550 assets. About Barings Barings is a $351+ billion* global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment. * Assets under management as of June 30, 2023 About Foulger Pratt Foulger Pratt was founded in 1963 with the vision to develop exceptional real estate alongside our employees, residents, partners, and investors. Since then, FP has become a national company that has developed, constructed, and managed more than 15 million square feet of residential and commercial projects. FP takes pride in its strong company culture that values honesty, integrity, and mutual respect in every aspect of its business. For more information, visit www.foulgerpratt.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20231018955604/en/Contacts MediaRelations@barings.com
Barings, one of the world’s largest diversified real estate investment managers, today announced its joint venture with Foulger Pratt to acquire a 172-unit build-to-rent (BTR) community in the Raleigh, N.C. metropolitan area. The $50+ million acquisition marks Barings’ entrance into the BTR market and builds on the firm’s $12.5+ billion* U.S. real estate equity platform. The transaction brings Foulger Pratt’s BTR portfolio to 700 homes and approximately $250 million in investment across North Carolina and Maryland. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231018955604/en/Barings and Foulger Pratt Close Acquisition of $50+ Million Build-to-Rent Community in Raleigh, NC (Photo: Business Wire) “We believe build-to-rent is one of the fastest growing segments of the housing market given demographic trends, evolving consumer preferences, and a national housing shortage,” said Joe Gorin, Barings’ Head of U.S. Real Estate Equity. “We are excited to partner with the well-established team at Foulger Pratt on our first BTR acquisition and look forward to deploying more capital into attractively priced assets as we scale our capabilities in this segment.” “Foulger Pratt is excited to continue its investment in the Carolinas through the delivery of quality rental housing in partnership with Barings – one of the world’s leading investment managers,” said Cameron Pratt, Chief Executive Officer of Foulger Pratt. The community will consist of 89 townhomes and 83 single-family detached units situated on 39 acres in Wendell, N.C. – just east of Raleigh. The initial deliveries of homes are expected to be available for lease in H1 2024. “We anticipate strong job, population, and household growth in this emerging submarket and believe this property will be well-positioned to offer an affordable rent alternative, a high quality of life, as well as easy access to key employment centers and top-tier universities,” said Kevin Miller, Barings’ Head of Real Estate Acquisitions, Eastern U.S. Barings has been investing in U.S. real estate equity for nearly 30 years and today has $35.5 billion* in U.S. real estate AUM across equity and debt, with nearly 130 dedicated real estate investment professionals across six U.S. offices managing more than 550 assets. About Barings Barings is a $351+ billion* global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment. * Assets under management as of June 30, 2023 About Foulger Pratt Foulger Pratt was founded in 1963 with the vision to develop exceptional real estate alongside our employees, residents, partners, and investors. Since then, FP has become a national company that has developed, constructed, and managed more than 15 million square feet of residential and commercial projects. FP takes pride in its strong company culture that values honesty, integrity, and mutual respect in every aspect of its business. For more information, visit www.foulgerpratt.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20231018955604/en/