New $1 billion fund to boost build-to-rent sector
Vellum Funds Management is partnering with Urban Property Group to launch a $1 billion fund to develop build-to-rent properties, as momentum continues to grow in the fledgling sector.
Vellum's Binuo Erth (left) and UPG's Patrick Elias at the Highland apartments project in Penrith. Photo: Vellum (Image source: Shutterstock.com)
Vellum Funds Management is partnering with Urban Property Group to launch a $1 billion fund to develop build-to-rent properties, as momentum continues to grow in the fledgling sector.
The companies this week launched The Places Build to Rent Fund, inviting investors to participate in a $132 million capital raising that has attracted $66 million in pre-commitments.
Investors will be invited to participate in further stages of the fund over the n…
