Concord Pacific and HB Management today announced it has entered into strategic agreements to become a majority shareholder of HQ Capital Real Estate. HQ will continue to own a minority interest in the ongoing business and maintain a close partnership going forward.
Concord Pacific has always been active in multiple industries, including real estate development, hospitality, information technology, green energy, and telecommunication globally. Concord Pacific and HB Management have been looking for the right opportunity and the right partner to enter the real estate fund management business.
The completion of this transaction is expected to occur in the next months of 2021 and is subject to customary approvals. The parties agreed not to disclose further details of the transaction. HQ Capital Real Estate will continue to build on its proven investment strategy focused on partnering with high-quality apartment developers and selectively acquiring existing multifamily properties with significant value creation potential in key growth markets across the United States.
