This landmark transaction establishes Australia's largest ever build-to-rent fund, constituting operational assets (including Mirvac's existing LIV Indigo asset in Olympic Park, Sydney), and development assets in Queensland and Victoria.

With Mirvac holding a 44% interest, the fund represents a significant step towards Mirvac's 'medium-term' target of providing 5,000 build-to-rent apartments across Australia.

The fund is also backed with cornerstone investment commitments from capital partners including the Australian federal government's Clean Energy Finance Corporation.

MinterEllison advised a syndicate of five lenders in relation to the provision of corporate, construction and investment facilities.

The MinterEllison team was led by Daniel Marks, Partner Finance Solutions.

Daniel Marks, Partner, commented, "Build-to-Rent represents a growing asset class in Australia, and we are proud to have assisted on such a significant transaction."