Cedar Pacific has announced the final close for its Built to Rent project – Quay Street – in Brisbane through a partnership with leading ethical fund manager, Australian Ethical. This marks a key milestone for Cedar Pacific as its first domestic investor partner.
The collaboration with Australian Ethical is a significant achievement for Cedar Pacific, who is committed to attracting investors from Australia and New Zealand and indicates the maturing of the Build to Rent sector.
The alignment of ESG credentials between the pair played a key role in securing the deal. The unique nature of the investors, all of whom prioritise sustainable practices, will reinforce Cedar Pacific’s commitment to developing vibrant, eco-friendly communities.
The project brings together Australian Ethical, Grosvenor’s Diversified Property Investments, Moata Ventures and Sumitomo Forestry Australia.
“Cedar Pacific is excited to welcome Australian Ethical – a leading ethical fund manager and superannuation fund with strong alignment to the values that has made Cedar Pacific the leader in ESG investment in the Australian and New Zealand living sector.”
David Hill, Chief Investment Officer, Cedar Pacific
The Quay Street project will see 475 purpose-designed Build to Rent apartments delivered in central Brisbane, with over 50% of the apartments providing affordable housing for eligible residents.
“We’re pleased to be partnering with Cedar Pacific on a premium project that will supply affordable housing, and which delivers a strong value proposition. All of our investments are guided by an Ethical Charter, which seeks to invest in a better world for people, animals, and planet, and projects like Quay Street enable us to make progress towards our vision.”
Adam Roberts, Head of Private Markets, Australian Ethical
This venture marks a significant milestone for investors entering the rapidly growing Australian Build to Rent market, highlighting the increasing institutional demand for high-quality Build to Rent assets in key urban locations.
