Realstar has substantial balance sheet resources and invests founder capital in its assets.
Joint ventures form an important element of Realstar’s success. Realstar often enters joint ventures with both large financial investors such as pension funds, endowments and family offices or strategic operating partners who require additional capital and/or expertise to complete a transaction.
In addition to its own corporate balance sheet and traditional joint ventures, Realstar also operates several discretionary co-mingled investment partnerships as well as single-partner co-investment structures. Past partners include: CIBC, Woodbourne, OP Trust, GIC Real Estate, Gordon, Midland Walwyn and Lehman Brothers
Realstar Apartment Partnership
Realstar Apartment Partnership is a series of investment vehicles in which the principals have partnered with a small group of Canadian pension funds and select HNWs to acquire high-quality, mulit-residential properties across Canada on a long-term ‘evergreen’ basis. The portfolio locations range from Victoria, British Columbia on the west coast to Halifax, Nova Scotia in the east and major markets in between. The partnership focusses on both existing as well as new build, forward purchase assets.
To date the investment vehicles have deployed in excess of $1.5B of equity representing a current value of over $4B.
Realstar European Capital
Realstar European Capital (‘RECAP’) is a series of investment vehicles, initially formed in 2008, with the objective of investing in both existing and development assets in the ‘beds’ space within the UK. With a primary focus on London and the key regional cities, RECAP has formed six vehicles to date which have required a range of assets in the multifamily, student housing, serviced apartment and hotel sectors. Notable transactions include the London’s tallest rental housing development, award-winning sustainable hotel, The Bankside Hotel and the creation of #1 rated rental housing brand (according to Trust Pilot), UNCLE. To date the partnerships have deployed in excess of £650M of equity with a current value over £1.5B.