Mirvac’ A$333.5 Million Melbourne build-to-rent development

Allens has advised ASX-listed Mirvac Group (ASX: MGR) (Mirvac) on the acquisition of a A$333.5 million purpose-built, build-to-rent project in Melbourne’s CBD. Melbourne property developer PDG will develop the 490-unit residential tower for Mirvac, under the terms of the agreement.

The ‘Munro’ project is opposite the city’s historic Queen Victoria Market and is part of the A$450 million renewal of Melbourne’s famous inner-city precinct.

This build-to-rent project is Mirvac’s second in Australia, following its initial investment at Sydney Olympic Park, due for completion in 2020.

Allens Advised Mirvac Group with a team including David McLeish (Picture) and Tim Chislett.

Involved fees earner: Tim Chislett – Allens; David McLeish – Allens;

Law Firms: Allens;

Clients: Mirvac Group;

Author: Michael Patrini