Cedar Pacific Investment Management, in partnership with Sumitomo Mitsui Banking Corporation (SMBC), has completed a $190m Green Loan and Social Loan facility for the 50 Quay Street Build to Rent development in Brisbane.
The transaction marks a significant milestone as it is the first Social Loan executed by Cedar Pacific, further strengthening the longstanding collaboration in the living sector with SMBC.
The Social Loan component was provided based on the development’s commitment to comprise affordable housing. This affordable housing will be delivered under the ongoing partnership with the Queensland Government as part of the Build to Rent pilot development.
The Quay Street scheme will increase the supply of market and affordable housing, unlock new development, and generate training opportunities in the construction and housing sectors.
Strategically located near Brisbane’s CBD, 50 Quay Street is being delivered by Hutchinson Builders and is targeting a 5 Star Green Star building rating upon completion.
Equity funding for the scheme is being provided by Sumitomo Forestry, Grosvenor, Australian Ethical and Cedar Pacific.
