Melbourne developer Gurner and Qualitas seek to be Australia's largest muti-family housing player

Staff reporterDecember 2, 20200 min read

The Melbourne developer GURNER and fund manager Qualitas have announced a partnership to enter the multi-family housing sector.

They will soon launch of capital raising for a dedicated build-to-rent fund with three seed projects in the works with total value of over $1 billion and 1,200 plus apartments.

GURNER and Qualitas aim to become the largest multi-family housing players over the next one to two years.

In September Gurner announced a strategic agreement with the private real estate financier for an equity allocation of up to $150 million on residential apartment projects.

Gurner's decision to partner with Qualities comes six months after Tim Gurner labelled the emerging sector a "stupid model" and warned that institutional investors like Blackstone and Greystar would wipe out mum-and-dad investors.

However he has since qualified the comments that came in a spat with Melbourne Lord Mayor Sally Capp who'd suggested that BTR was a great way of delivering affordable housing.

Gurner maintains the asset class was about delivering a premium product and compelling returns to investors.

He told The Australian Financial Review a significant reduction in apartment supply, falling interest rates, and land tax breaks and incentives introduced in NSW and Victoria this year specifically would make returns "very attractive".

Staff reporter

Build to Rent
This website uses cookies to ensure you get the best experience on our website. Find out more in our privacy policy.
Accept Cookies