Greystar Real Estate Partners has held a final close for its flagship Australian investment vehicle Greystar Australia Multifamily Venture I (GAMV I) with total capital commitments of A$1.3 billion ($1.01 billion).
In the final close, Ivanhoé Cambridge and a major European institutional investor joined founding investor APG Asset Management to establish Australia's largest build-to-rent venture to-date. The partnership will work together to deliver a new generation of high-quality, purpose-built rental housing with best-in-class services and amenities to meet the rapidly evolving needs of the large rental cohort in Australia.
Graeme Torre, managing director, APG Asset Management Asia, said, “We see it as simply a matter of time before the build-to-rent residential sector gains a foothold in all the key Asia-Pacific markets. So, it is no surprise to us that major investors such as Ivanhoé Cambridge have committed to the sector alongside APG in a sophisticated marke
