Partnership with Plenary Group to establish a Build-to-Rent (“BTR”) residential investment platform in Australia.
Overview
- The platform is targeting third party capital of circa A$500m to invest into existing and develop-to-hold, at-market BTR and affordable / key worker housing projects in major Australian capital cities.
- Once established, the company will be a vertically integrated investment manager, developer and operator of BTR properties in Australia.
- There is an affordability crisis in Australian residential property which we are seeking to solve.
- The demand drivers for rental product are strong.
- There is limited supply and low vacancy driving very strong rent growth in the sector presently.
Strategy
- National approach with a focus on the major eastern seaboard states.
- Predominately develop-to-hold activity given the nascent nature of the institutional BTR sector in Australia.
- Target those locations and renters most impacted by the affordability crisis – low to mid-market income households.
- Amenity and services curated for local tenant cohort.
- Seek scale for relevance and to maximise platform efficiencies.
