Development

Mirvac’s new $1.8 billion Build to Rent fund in deal that cuts stake in developments

Jul 04 2023 Updated October 4, 2023

Team Editor

1 min read

The leading development and management property group has announced its future intentions with a new venture with investors, including the Clean Energy Finance Corporation, and a reduction in its ownership of current developments.

The $1.8 billion raised means Mirvac retains 44% in its operational Build To Rent assets LIV Indigo in Sydney and LIV Munro (pictured) in Melbourne, and pipeline assets LIV Anura in Brisbane and LIV Aston and LIV Albert Fields in Melbourne.

Mirvac stated the capitalisation of its new venture will support its vision to grow the Build To Rent portfolio to at least 5,000 apartments in the medium-term.

As part of the transaction, Mirvac will continue to source and secure new opportunities for the venture from a variety of sources, including from Mirvac’s $30 billion development pipeline and through off-market and on-market opportunities.

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