Sentinel and PGGM partner on A$1.5 billion Australian Build to Rent venture
Sentinel Fund Manager Australia, the Australian arm of leading American real estate investment and development firm, Sentinel Real Estate Corporation (Sentinel) and Dutch pension fund manager PGGM have today announced a new partnership to develop and manage up to A$1.5 billion in Build to Rent communities throughout Australia.
PGGM’s first investment tranche opens up a pipeline of over A$700 million in initial development potential for the venture. The partnership aims to develop a national portfolio of approximately 2,500 Build to Rent units, with the first two sites for development already confirmed. Sentinel, through its vertically integrated platform, will provide investment management, development management and property management services to the partnership.