apt.Residential, PGGM collaborate on A$1.5b build-to-rent partnership
Investors - MAY 14, 2024

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apt.Residential, PGGM collaborate on A$1.5b build-to-rent partnership

by Andrea Zander

Sydney-based real estate investment manager apt.Residential has formed a long-term partnership with PGGM Private Real Estate Fund, managed by the Dutch pension investor PGGM, for a programmatic rollout of build-to-rent residential projects in Australia, with an initial focus in Sydney.

PGGM has established an open-ended partnership with apt.Residential, dedicated to the build-to-rent residential sector, with the objective of developing and investing in a large-scale portfolio of high quality institutional rental properties. PGGM has made a substantial initial financial commitment supporting apt.Residential’s plan to invest up to A$1.5 billion ($990 million).

apt.Residential will manage and operate the properties long-term. Its first two investments for development are already confirmed in Sydney, one of which is already on site, to be announced very soon.

The co-founders of apt.Residential include the senior management team of George Confos (formerly of CBA),

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