Hines U.S. Property Partners (“HUSPP” or the “Fund”), the firm’s U.S. core-plus fund, has acquired Blu South, a build-to-rent (BTR) community located at 920 Blu Central Rd. in Pineville, North Carolina. Serving as Hines’ first BTR acquisition in the U.S., this announcement represents the firm’s confidence in the growing sector and the Charlotte market. The seller is Landmark Properties.

Hines’s Adriana de Alcantara added, “This strategic acquisition expands our alternatives portfolio, capitalizing on a Class A BTR community that supports long-term demographic tailwinds as people look for more space amid a challenging home-buying market.”

Upon completion, Blu South will feature a total of 551 individually platted homes ranging from three- and four-bedroom townhomes, single-family detached houses, and duplexes across 75-plus acres. Of the planned 551 homes, 341 have already been delivered, with the remainder expected to be fully delivered by the third quarter of 2025. 

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