Build-To-Rent projects tagged for $750m impact fund

 Property developer Samma Property Group has partnered with impact investment management firm Brightlight to launch a $750 million capital-raising for four “shovel-ready” build-to-rent projects, with plans to more than double that pipeline over the longer term.

The first four projects, all in inner-city Melbourne, comprise 1412 apartments that will one day become home to as many as 2800 residents. All going to plan, over the longer term that pipeline could swell to 11 developments with 3144 apartments and twice as many residents in a portfolio worth $1.7 billion by financial year 2028.

For Brightlight, which has invested in disability housing, among other things, the drawcard of the BTR projects is their ability to foster healthy and vibrant resident communities over the longer term, key attributes that meet its mantra of sustainable investing with a social impact.

“Looking at it from the Brightlight perspective, we see an interesting blend of real estate and sustainable investing,” chief strategy officer Matthew Zschech told The Australian Financial Review.

“One of Brightlight’s key focuses is how we can enhance the social experience for people within a build-to-rent context.”

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