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Sign in Sign up for a FREE subscriptionGurner Qualitas JV buys third seed asset
Developer Gurner, with its partner Qualitas, has unveiled its third seed asset for the partnership’s A$1.2 billion ($870 million) GQ build-to-rent fund platform.
The third project, named Beach House, located on Melbourne’s St. Kilda Junction, will consist of 385 residences across two towers spanning 12 levels and 28 levels, respectively, with 4,000 square meters (43,056 square feet) of retail and commercial space.
The platform’s other projects include a A$450 million ($325 million) 385-unit apartment in Parramatta, and a 41-story tower on the Southbank site in Melbourne’s CBD.
The partners confirmed the successful fund-raising close of A$1.2 billion ($870 million) for their GQ Build-to-Rent platform, exceeding the original A$1 billion ($720 million) they set out to raise in November. GQ’s aim is to create a portfolio of A$5 billion ($3.2 billion) and more than 5,000 units under management.
