Samma and Brightlight set sights on $1.7bn Build-To-Rent apartments

SAMMA Property Group and impact investment firm Brightlight are plotting $1.7 billion pipeline of “designed-to-rent” apartment projects, which the partners consider an evolution of the build-to-rent model that will incorporate ongoing assessment of wellbeing measures including resident surveys.

They are launching a $750 million fund to back a shovel-ready portfolio of four Melbourne-based projects, leading with a development planned for 65 Haig Street in Southbank, on the edge of the CBD.

The partnership will see the creation of 1,412 apartments across the four developments from 2022 to 2025, with measurable impact outcomes for over 2,800 residents. Longer-term, Samma and Brightlight are extending that pipeline to 11 developments with 3,144 apartments for over 6,200 residents that it expects will be valued at more than $1.7 billion by the 2028 financial year.

Aimed at millennials aged 25 to 45 years, the residences will offer a “luxurious yet affordable” inner-city lifestyle, with builds that boast a 7-star NatHERS rating and 5-star green star certification.

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