Developer Daiwa House Australia has formed a partnership with Lendlease to develop a $650 million (€394 million) build-to-rent (BTR) project in inner Melbourne. The development at Flinders Street, will be the second BTR residence to be delivered by Lendlease in Australia as it continues to expand its international capability in its home market.
Lendlease which will develop, construct and act as the investment manager for the development, will retain a 25% interest. The development, which offers almost 800 apartments, forms the final piece of Lendlease’s Melbourne Quarter regeneration project. The Daiwa House/Lendlease partnership marks the entry of Daiwa House, Japan’s largest home builder, into Australia’s BTR market.
Source: realassets.ipe.com on the 17th of July 2023