MA Financial Group new credit vehicle secures $380m for Burly Residences

A new real estate credit vehicle which aims to fill the private funding void has backed a renowned property developers’ latest Gold Coast project to the tune of $380m.

DD Living founder and chief executive David Devine.

Property icon David Devine has secured $380m in funding to deliver his premium apartment project Burly Residences on the Gold Coast.

Global alternative asset manager MA Financial Group, through its new $1bn Australian Real Estate Credit Vehicle, in partnership with one of Asia’s largest real estate investors Warburg Pincus, confirmed the $380m institutional funding for the delivery of the six-star 25-level Burly Residences development in North Burleigh.

The Real Estate Credit Vehicle is designed to address the persistent funding gap within Australia’s undersupplied residential housing market.

It also provides global institutional investors with access to Australia’s real estate credit market, funding high-quality developers and residential real estate projects.

An artist’s impression of Burly Residences, North Burleigh.

Mr Devine, chief executive and founder of DD Living, said the support from the Real Estate Credit Vehicle and MA Financial Group was a strong endorsement of the $540m project’s positioning and delivery strategy.

“The support from the Real Estate Credit Vehicle and MA Financial Group underpins our

commitment to delivering Burly Residences as a premium, six-star beachfront residential

development,” he said.

Burly Residences is the second six-star project in the DD Living’s portfolio, following the successful Royale Gold Coast development.

Both projects are now fully funded to completion, with Royale Gold Coast scheduled for mid-2026 delivery and the $540m Burly Residences at 264–268 The Esplanade in late in 2027.

An artist’s impression of Burly Residences, North Burleigh.

MA Financial Group managing director and head of Australian Real Estate Credit, Drew Bowie, said the investment in Burly Residences is in line with its strategy to support high-quality residential developments backed by experienced delivery teams in growth markets.

“Burly Residences represents a compelling opportunity to support the delivery of a premium residential project in one of the strongest-performing lifestyle destinations in Australia,” he said.

“The credentials of the development team, strong pre-sales performance, and the quality of the architectural design and beachfront location all reflect the type of project we seek to support through our real estate credit strategies.

“We’re seeing signs of a more constructive environment for real estate development, with improved confidence and stabilising costs.

“That’s opening up more opportunities for private credit to step in and support projects that may have struggled to access traditional financing over the past 12–18 months.”

An artist’s impression of Burly Residences, North Burleigh.

Burly Residences has 101 premium apartments, designed by internationally acclaimed Koichi Takada Architects with luxury interiors by Mim Design.

The development offers two expansive levels of resort-style amenities, featuring a state-of-the-art wellness centre with a yoga zone and Peloton room, gymnasium, cold plunge and heated spas, sauna, pools, BBQ facilities, teppanyaki dining area, winter lounge, Burly Club bar, a private cinema, executive lounge with private meeting spaces.

MA Financial Group Investment director asset management Rodney Norris said the transaction marked a significant milestone.

“It lays a strong foundation for our growth strategy in Queensland and we are committed to building on this momentum and delivering long term value for our clients,” he said.

Originally published as MA Financial Group new credit vehicle secures $380m for Burly Residences