Japanese forestry giant to partner on $1.2b build-to-rent portfolio

According to The Australian Financial Review, investment manager Cedar Pacific has joined forces with Japanese timber, housing and building materials giant Sumitomo Forestry on plans to develop a $1.2 billion portfolio of build-to-rent apartments, where much of the focus will be on sustainability.
Under the deal, Japan’s Sumitomo will acquire just short of 50 per cent equity stakes in build-to-rent projects undertaken in the JV partnership, starting with a $375 million development already under construction in Brisbane.
Cedar Pacific – best known as a developer of student accommodation towers, but which flagged a move into BTR in 2020.

https://www.afr.com/property/residential/japanese-forestry-giant-to-partner-on-1-2b-build-to-rent-portfolio-20240402-p5fgr6