Original article by Larry Schlesinger
The Australian Financial Review – Page: 37 : 6-Sep-17
Melbourne-based Caydon Property Group has started work on its first "build-to-rent" apartment project in the US. However, Caydon founder Joe Russo questions whether the build-to-rent model will be successful in Australia, noting that rising property values means that such an apartment building is likely to be less profitable than selling all apartments off the plan. Mirvac is undertaking a capital raising to finance its first build-to-rent project, while Salta Properties also plans to enter the sector.
CAYDON PROPERTY GROUP PTY LTD, MIRVAC GROUP – ASX MGR, SALTA PROPERTIES PTY LTD, AMP CAPITAL INVESTORS LIMITED, SCAPE LIVING STUDENT ACCOMMODATION, MACQUARIE CAPITAL PTY LTD, GREYSTAR REAL ESTATE PARTNERS LLC, DOMUS HOLDINGS CORPORATION