NewsBite

Financing

This Month

Now non-bank lending with Macquarie: Private credit and investment manager IDA has invested in Esprit de Vie’s retirement living project at Mermaid Waters in Gold Coast. 

Macquarie buys into private credit provider IDA

The investment bank is tapping the demand for development funding in Australia’s chronically undersupplied housing market.

  • Michael Bleby
Local development in Kensington, Shemara Wikramanayake, Dan McLennan, Matt Berg, Andrew Irvine.

New tax laws no silver bullet for build-to-rent, NAB warns

Last week’s legislation halving the tax rate for foreign investors is a good start, but rival Macquarie agrees other factors also drag on projects.

  • Michael Bleby

October

Major banks have split on prudential policy settings.

Banking regulator rejects calls to cut home loan interest rate buffer

APRA chairman John Lonsdale has hit back at the Australian Banking Association at a parliamentary hearing on Friday.

  • James Eyers

August

Making a place: The Pillars cofounders (excluding Jonathan Lui), from left Bradley Delamare, Cherryl Mack, Matthew Browne, Emma Bloomfield, and Steve Grace.

The faces behind Sydney’s new $10m members’ club

For $20,000 a year, members of Australia’s new tech and funding community club can take an ice bath, or breastfeed, in a space of their own.

  • Michael Bleby
Real estate investment trusts have lost some appeal as interest rates have climbed.

It was a hot real estate trade. Now investors are worried

For individual investors, the chance to invest with Wall Street’s elite was too good to pass up. It’s not looking so good for them now.

  • Maureen Farrell
Advertisement
David Lyall is the managing partner of Millwood, a major non-bank lender.

Overdue loans swamp private credit giant lending to Sydney’s wealthy

The local lender has previously written loans for some of Sydney’s most colourful businessmen. Growing arrears aren’t always made clear to its investors.

  • Primrose Riordan, Aaron Weinman and Jonathan Shapiro
Tim Peel, the chief financial officer of Scape, has lowered the student-housing operator’s debt by about $8 million a year.

How Scape saved $8m by shaking off private credit

The student housing operator’s refinancing push has found ample support from global banks looking for alternatives to office property exposures.

  • Aaron Weinman

July

Public Hospitality Group’s Jon Adgemis at the Australian Open this year.

Overhaul for Adgemis’ Public Hospitality Group after refinancing

The Jon Adgemis-chaired pubs empire has completed its refinancing with Deutsche Bank, with the former KPMG dealmaker to focus on redeveloping its pubs.

  • Kylar Loussikian

May

Korean investors paid $395 million for specialised facilities as part of the NDIS scheme. It was all a lie.

How South Korea’s giant pension funds fell prey to $395m NDIS housing scam

The elaborate fraud succeeded by making grand claims, name-dropping Australia’s biggest property players, and was only discovered by chance.

  • Michael Bleby

Man behind $395m NDIS investment fraud gets 12 years in prison

The verdict brings to an end a criminal matter in which the former property developer used fake documentation to secure financing from Korean pension funds.

  • Michael Bleby and Campbell Kwan

April

Urbnsurf became the first company in the world to operate two surf parks last weekend when it opened its new facility in Sydney’s Homebush.

Bankers try on a new alternative asset class – surfing

The risk is high, but Urbnsurf – now backed by Nomura and a special situations lender – is trying to prove wave parks can be serious business.

  • Aaron Weinman
Now including 1000 student rooms: Artist’s impression of Melbourne’s Gurrowa Place project at Queen Victoria Market, which will also include an office tower and build-to-rent housing.

Scape closes third joint venture with $1b student housing fund

The private developer of purpose-built student accommodation has paired again with funding partners APG and Ivanhoe Cambridge to develop 3000 new rooms.

  • Michael Bleby

March

Cushman & Wakefield’s Noral Wild: “The demands on data – they can’t even keep up with what they think is going to be needed to service the AI component of all of that.”

Cushman & Wakefield taps Noral Wild to lead, deepens alternatives push

The commercial agency’s appointment of a new CEO for Australia and New Zealand signals the trends in commercial property it is aiming to tap.

  • Updated
  • Michael Bleby
More, built faster: Demand has been strong in the federal government’s first social and affordable housing tender.

First tender surge for Housing Future funds

Public housing waiting lists make it crucial to expand funding beyond an initially planned 8000 homes, investors say.

  • Michael Bleby
Public Hospitality’s Jon Adgemis (left) and Ricos Tacos chef Toby Wilson.

Debt-laden Adgemis mortgages mum’s and grandmother’s homes

The ex-KPMG dealmaker has denied the loans are related to the hospitality empire he is hoping to refinance.

  • Primrose Riordan
Advertisement
Certainty needed: Salta Properties MD Sam Tarascio on site in Fitzroy North, the first development of his company’s 4000-unit BTR pipeline.

Tax uncertainty keeps build-to-rent investors away, developers say

A lack of clarity about new rules for offshore investors is slowing the development of much-needed housing.

  • Michael Bleby

February

Holding image Wayne Swan. Fresh pic to come Tuesday 4pm

Cbus could invest more than $500m in affordable housing: Wayne Swan

The boss of the industry super fund says it is comfortable with the risks of a new asset class and wants to play a role in resolving Australia’s housing crisis.

  • Michael Bleby
IFM Investors chair Cath Bowtell.

Super funds housing investment ‘not a subsidy’, IFM says

“When we invest in Australian companies that create jobs for Australians, no one says ’What are you doing investing in job-creating companies?” giant fund manager says.

  • Michael Bleby
Andrew Schwartz, co-founder of Qualitas.

Australia needs $115b to fund new housing, Qualitas says

The pick-up in private funding puts pressure on the federal government to clarify rules around inclusion of affordable rental housing in new developments.

  • Michael Bleby
Going up in South Melbourne: the residential site Local and an overseas investor acquired from Blue Earth Group has a permit for 406 units.

BTR operator Local closes $650m fund for two buildings

As private investors pull back, institutions are stepping in to develop build-to-rent housing.

  • Michael Bleby

Original URL: https://www.afr.com/topic/financing-1nq2