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Oxford Properties acquires build-to-rent project
Oxford Properties has acquired and will develop a build-to-rent project based in Melbourne’s Southbank.
Naomi Neilson
Firm: Corrs Chambers Westgarth (Oxford Properties, Indi)
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Deal: Independent firm Corrs Chambers Westgarth (Corrs) has advised Oxford Properties and build-to-rent program Indi on the acquisition and development of a project in Melbourne’s Southbank.
Value: Estimated end value of $350 million.
Area: M&A; property.
Key players: The deal was led by partner and head of property and real estate, Nathaniel Popelianski, who was assisted by partners Chris Campbell, Peter Calov, Jennee Chan, Robert Clarke, James Morley and senior associate Warren Scott.
Deal significance: The Kavanagh Street project will comprise 434 apartments, including 40 key worker housing units. It will form part of the build-to-rent platform launched by Oxford and Investa, Indi, to deliver a portfolio of 5,000 apartments.
Commenting on the matter, Mr Popelianski said: “As a key component of their BTR ambitions, we are pleased to again work with Oxford and Indi to deliver on this exciting and important project. Engaging expertise from across Corrs’ practice groups was central to the success of this transaction.”
