Street Talk

Novus seeks $1b for Sydney Metro-adjacent build-to-rent projects

Sarah Thompson, Kanika Sood and Emma Rapaport

Apr 27, 2025 – 3.12pm

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Build-to-rent player Novus has hit the pavement to raise $1 billion plus for three projects across Sydney and Melbourne, tapping into inbound interest from Asian and North American institutional investors.

The group, a partnership between property developer Aliro Group and two ex-Mirvac employees, Adam Hirst and Jason Goldsworthy, has hired investment bank Jarden and Chicago-based Cushman & Wakefield to market the deal and oversee an international capital raising process.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.