Dutch pension fund giant puts $700m into Sydney build-to-rent start-up

Dutch pension fund manager PGGM has committed an initial $700 million to a new build-to-rent platform that aims to develop 2500 apartments across six to eight towers over the next few years – the majority in Sydney.

Apt.Residential was founded by Matt Carolan, the former chief investment officer at Urbanest, which sold its portfolio of student dorms in late 2019 to Scape for $2 billion.