The Most Active BtR Sector Investors Revealed

Build-to-rent continues to gather pace in Australia with close to 10,000 apartments operational at the end of last year and another 8200 under construction. Forecasts are for strong growth, according to Franklin St which is projecting close to 50,000 build-to-rent apartments will be operational by the end of 2027. But the asset class is dependent on patient institutional capital to back the develop-and-hold model that has proliferated on Australian shores. The Urban Developer can reveal the most active investors in the build-to-rent asset class in the past two years, the deals, the projects and the portfolios putting the maturing asset class on the map in Australia. CEFC &amp; Mitsubishi Estate The Clean Energy Finance Corporation (CEFC) and Mitsubishi Estate, as part of a joint venture, have acquired a majority share in five build-to-rent projects over the past two years. This portfolio, owned by Mirvac, comprises five LIV developments across Australia, totalling about $657 million. Company: Clean Energy Finance Corporation (CEFC) Investor type: Government Country of origin: Australia Est. value of apartment holdings (all time): $744 million (shared portfolio) Company: Mitsubishi Estate Investor type: Real estate operating company Country of origin: Japan Est. value of apartment holdings (all time): $744 million (shared portfolio) Joint acquisitions (past 24 months) Number of properties: 5 Volume ($): $657 million LIV Munro LIV Indigo LIV Anura LIV Aston LIV Albert Fields Price of portfolio: $1172.6 million Date of transaction: June 2023 Daiwa House In July 2023, Japanese developer Daiwa House acquired 75 per cent of Melbourne Quarter, a Lendlease build-to-rent asset valued at $423.4 million. The development comprises 797 apartments, ranging from studios to one, two, and three-bedroom layouts, and the western tower was recently topped out. Company: Daiwa House Investor type: Real estate operating company Country of origin: Japan Est. value of apartment holdings (all time): $430 million Acquisitions (past 24 months) Number of properties: 1 Volume ($): $318 million Melbourne Quarter Price: $ 423.4 million Date of transaction: June 2023 Hines &amp; OTPP Hines, in a joint venture with Ontario Teachers’ Pension Plan (OTPP), acquired two Arklife build-to-rent projects for $242 million in October 2024. The transaction was part of a package deal to add two Brisbane-based BtR developments to their portfolio. Company: Hines Investor type: Investment manager Country of origin: USA Est. value of apartment holdings (all time): $318 million Company: Ontario Teachers’ Pension Plan (OTPP) Investor type: Pension fund Country of origin: Canada Est. value of apartment holdings (all time): $242 million Joint acquisitions (past 24 months) Number of properties: 2 Volume: $242 million • Arklife Robertson Lane • Arklife Cordelia Price of portfolio: $242 million Date of transaction: October 2024 M&amp;G Real Estate UK-based M&amp;G Real Estate has acquired two residential developments for $214 million. The portfolio includes Novus on Harris, purchased in May 2024, and UniLodge Park Avenue, which was acquired in February 2025. Company: M&amp;G Real Estate Investor type: Investment manager Country of origin: UK Est. value of apartment holdings (all time): $400 million Acquisitions (past 24 months) Number of properties: 1 Volume: $318 million Novus on Harris Price: - Date of transaction: May 2024 UniLodge Park Avenue Price: $60.2 million Date of transaction: February 2025 Qualitas &amp; Tim Gurner A joint venture between Qualitas and Tim Gurner secured a majority share in Melbourne Square with a $214-million acquisition of the development. This transaction took place in December 2023. Company: Qualitas I nvestor type: Inv. Mgr. Country of origin: AUS Est. value of apartment holdings (all time): $655 million Company: Tim Gurner Investor type: HNW Country of origin: AUS Est. value of apartment holdings (all time): $655 million Joint acquisitions (Past 24 months) Number of properties: 1 Volume: $198 million Melbourne Square BtR Price: $ 264.5 million Date of transaction: December 2023 Macquarie Group &amp; Local Residential Macquarie Group and Local Residential, as part of their joint venture, secured Sky Square Apartments in October 2023 through a $151-million transaction. Company: Macquarie Group Investor type: Bank Country of origin: Australia Est. value of apartment holdings (all time): $216 million Company: Local residential Investor type: Developer/owner Country of origin: Australia Est. value of apartment holdings (all time): $180 million Joint acquisitions (past 24 months) Number of properties: 1 Volume: $151 million Sky Square Apartment Development Price: $ 151.2 million Date of transaction: October 2023 * This list was compiled with data sourced from MSCI Real Capital Analytics.

The Most Active BtR Sector Investors Revealed

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