Warburg Pincus and Australian real asset investment manager Kio Investment Management have increased their capital commitment to accelerate investment in Build to Rent and expand into purpose-built student accommodation (PBSA) across Australia’s major gateway cities.
“Strong population growth, constrained housing supply and increasing demand for institutionally managed rental housing continue to create attractive long-term fundamentals.”
Andrew Fitzpatrick, Managing Director, Warburg Pincus
The partnership, which was established in 2024, has already secured four schemes across tier-one submarkets in Sydney, Melbourne and Brisbane. All four schemes have received development approval, with construction already underway on three.
The expanded venture is also being seeded with a fifth Build to Rent development in Collingwood, Melbourne, with early construction expected to begin in the fourth quarter of 2026. The scheme will deliver over 400 apartments.
“Since our partnership began, we have moved quickly to establish a meaningful presence across Australia’s tier-1 rental living markets, while building a strong pipeline for future growth.
“This expanded commitment allows us to accelerate the next phase of growth by increasing our Build to Rent portfolio and expanding into PBSA, creating a more diversified institutional living platform.”
Sam Bisla, Founder and Managing Director, Kio Investment Management
It represents the latest addition to the portfolio. Across the Build to Rent and PBSA pipeline, the additional capital commitment is expected to support the development of a rental living portfolio with a target end value of $2.5bn.
The expansion into PBSA will allow the partnership to diversify its rental living strategy and target demand across two established sectors of Australia’s residential market.
