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

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