Mirvac has announced the formation of the Australian Build-to-Rent “club”.
Mirvac’s first purpose-built build-to-rent asset in Australia, will be Indigo at Mirvac’s Pavilions project at Sydney Olympic Park.
The Clean Energy Finance Corporation has secured a 30 per cent interest ($50 million) in Mirvac’s first institutional build-to-rent investment platform as a cornerstone investor. The CEFC investment will enhance the project design using clean energy and energy efficiency technologies with the potential to cut carbon emissions by as much as 40 per cent.
Mirvac will act as development, investment and property manager on the 258-apartment project that is set to be completed in 2021.
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