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Australia: Deutsche Asset Management (formerly DWS Group) has entered into development agreements with FYVE and construction contractor Binah for its first Australian build-to-rent (BTR) project.
The project, which will be the first major housing project in the Sydney suburb of Liverpool in almost a decade, will consist of approximately 414 apartments, a gym and a rooftop amenity overlooking the surrounding area.
At 34-storeys high, the development is proclaimed to be the area’s tallest tower. The deal was made on behalf of one of Deutsche Asset Management’s real estate funds with planning approval expected in 2027.
The site is located near Liverpool train station, as well as the Western Sydney International Airport, providing easy access to retail, healthcare, education, transport and employment zones.
Ben Taylor, Deutsche Asset Management’s head of real estate for Australia, said the project aligns with the group’s goal to build quality rental units for medium-income households.
“We are delighted to join forces with FYVE and Binah, aligning our team’s investment, development and asset management capabilities alongside their residential delivery expertise,” Taylor said.
FYVE managing director Amen Zoabi added: “The agreement further cements FYVE’s standing with leading institutional investors at home and abroad. Our integrated developer-builder model with Binah gives us direct control over cost and program. That delivers real efficiency but, just as importantly, it derisks the project for our partners.”
Highlights:
- Deutsche Asset Management (formerly DWS Group) has entered the Australian build-to-rent (BTR) market through development agreements with Australian developer FYVE and construction contractor Binah for its first Australian residential rental project
- The proposed 414-apartment development will be located on Elizabeth Street in Liverpool, Western Sydney, and is being undertaken on behalf of one of Deutsche Asset Management’s real estate funds. Planning approval is expected in 2027
- The 34-storey project will include approximately 414 apartments, a gym and rooftop amenities, and is expected to become Liverpool’s tallest tower. It will also mark the area’s first major housing project in almost a decade
- Located near Liverpool train station and Western Sydney International Airport, the development will provide access to retail, healthcare, education, transport and employment hubs
- The project targets the undersupplied mid-market rental sector, with Deutsche Asset Management aiming to provide quality rental housing for middle-income households and key workers FYVE and Binah will combine their integrated development and construction capabilities to manage project costs and delivery risks
