Mirvac has launched the first A$1 billion ($740 million) build-to-rent club to help address the pressure on housing affordability.
Mirvac has set up Australian Build-to-Rent Club (ABTRC) and has signed up Clean Energy Finance Corp. (CEFC) as a cornerstone investor, which invested A$50 million ($37 million) for a 30 percent stake in the club’s first close.
The seed asset for the club, and Mirvac’s first purpose-built build-to-rent asset in Australia, will be Indigo at Mirvac’s Pavilions project at Sydney Olympic Park in NSW, Mirvac’s fourth building in the precinct. With a customer-first focus, Mirvac is committed to offering an exceptional rental experience at Indigo, with dedicated onsite leasing and management, high-quality amenities, a resident program and leading sustainability features. Mirvac will act as the development, investment and property manager.
The CEFC’s investment will help to enhance sustainability at Indigo, which has been designed t
