First and Largest Institutional Build to Rent Project in Australia
Build to Rent Advisory | Transaction Management
Project value
$550m
Client
Grocon
Category
GroconAbout This Project
Partner Directors, Dan McLennan and Matthew Berg, were responsible for the transaction management of Australia’s largest build to rent project, the 7.6 Ha Athletes Village in Southport on the Gold Coast, completed in 2017 for the 2018 Commonwealth Games.
The project was the result of an on-market bid to construct 11,252 units run by the Queensland State Government and the successful bid was a result of the innovative build to rent structure which allowed Grocon to guarantee delivery for the Queensland State Government by not relying on presales.
Our Partner Directors, whilst employed at Grocon, oversaw the bid process, formulated the fund-through structure and sourced capital for the development via ANZ, UBS Grocon, LaSalle Investment Management and the Abu Dhabi Investment Council (ADIC) for what would become the largest build to rent development in Australia.