Media release: Clayton Utz advises Commonwealth Bank of Australia on $168 million build-to-rent financing

The project, led by apt.Residential in partnership with Dutch pension fund PGGM, will deliver approximately 300 rental apartments and a 4,000 sqm neighbourhood retail centre. Apt.Residential is targeting a 5 Star Green Star rating for the development which will feature sustainable infrastructure, including rooftop solar panels and 17 EV charging stations.

The project is expected to be completed by the third quarter of 2026.

Clayton Utz Banking & Finance partner Graeme Tucker led the firm's team with key support from lawyer Cindy Chen, alongside Real Estate partner Eva Oraham and Major Projects partner Lina Fischer, special counsel Ben Pierce, and senior associates Emil Obaid and Danielle Mizrahi. The team has also recently completed another financing of a build-to-rent transaction.

This transaction is one of CBA’s first funding arrangements with a mid-sized developer in the build-to-rent sector.

Lead partner Mr Tucker said:

The transaction highlights the growing institutional confidence in the build-to-rent sector and its potential to deliver sustainable housing solutions for Australians. We're proud to have supported CBA in helping to support apt.Residential in bringing this important project to life.