AustralianSuper backs build-to-rent projects across the country
AustralianSuper, Australia’s largest superannuation fund, is making an equity investment in several build-to-rent projects in Australia, which are being undertaken by Assemble Futures, a build-to-rent developer and operator.
Assemble began construction on 199 apartments at their second build-to-rent-to-own project in Kensington. Assemble Futures said the project is the first in its pipeline to receive equity investment from AustralianSuper.
AustralianSuper also committed to the third Assemble Futures project, with 171 apartments in Brunswick, and agreed to support the acquisition of three new Assemble Future sites in Victoria, providing more than 1000 additional homes in central Melbourne.
Two of the projects are slated to be completed by mid-2024. The pipeline of five Assemble Futures projects across Melbourne’s central suburbs will deliver more than 1,500 homes via the build-to-rent-to-own model by 2027.
“Through the unique Assemble Futures model,