Adam Pillay, executive director of investor relations and APAC investment management leader at Greystar
MTD TV kicks off its 2024 programming slate next Tuesday with a spotlight interview featuring Greystar’s Adam Pillay, who returns to Mingtiandi’s video platform to discuss what’s next for the US apartment giant and its capital partners in Asia Pacific.
Pillay leads investor relations and capital-raising efforts globally in addition to Greystar’s business in APAC, including Australia, China and Japan. The former JP Morgan dealmaker joins Mingtiandi founder Michael Cole for a wide-ranging talk about rental residential in the region, where investment volume in the segment bucked an overall downturn last year to rise 5 percent to $12 billion, according to MSCI.
The 45-minute session, which is sponsored by Yardi, will stream live at 10am Hong Kong time on 19 March as the first of six sessions in Mingtiandi’s APAC Residential Forum 2024. After the interview, the Mingtiandi team will moderate a live Q&A session in which viewers can ask Pillay for his thoughts on this year’s market outlook.
Regional Workbook
In Australia, where multi-family investment volume jumped 87 percent to surpass $2 billion last year, Greystar has a 3,000-unit pipeline with five build-to-rent projects in Melbourne and one in Sydney.
Melbourne’s multi-family investment volume nearly tripled in 2023 to reach $966.7 million, easily topping activity in Sydney, where deal volume dipped 12 percent to $187 million. Among APAC metros, only Tokyo and Osaka eclipsed Melbourne’s multi-family investment activity with volumes of $3.4 billion and $1 billion respectively.
In Japan, which led all markets with $6.3 billion in multi-family investment last year, Greystar plans to raise institutional capital to acquire, develop, reposition and manage rental housing assets.
The South Carolina-based developer also has two projects in mainland China, where multi-family investment volume in 2023 topped $1.9 billion, up more than 42 percent from the previous year’s total. Greystar achieved a $450 million first closing of its China multi-family fund in 2019, the same year it acquired its first Shanghai project, the Belvedere.
Weave and BlackRock on Deck
The Residential Forum continues Wednesday with another exclusive spotlight interview, this one featuring Weave Living founder and CEO Sachin Doshi and BlackRock APAC real estate head Hamish MacDonald.
Weave last month unveiled a joint venture with a BlackRock fund to buy a Singapore serviced apartment block for S$148 million ($111 million), marking the regional operator’s second property in the Lion City.
Doshi and MacDonald will chat about that deal and other facets of their firms’ strategic partnership, followed by a Q&A session in which viewers can quiz the pair on their outlook for APAC’s rental residential market.
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