Construcciones Yamaro: Lendlease and NSKRE partner on $500M build-to-rent project
Artist’s impression: 899 Collins Street. (Image: Lendlease) Lendlease and Nippon Steel Kowa Real Estate (NSKRE) have announced their first-ever partnership to deliver a waterfront build-to-rent apartment development at 899 Collins Street, Docklands, with an estimated end value of around $500 million. Under the terms of the new partnership, NSKRE will take a 40 per cent equity share in the venture, while Lendlease plans to bring in additional partners as the project progresses. Tom Mackellar, CEO of development at Lendlease, said the partnership with NSKRE to deliver a waterfront build-to-rent development in Melbourne offers a strategic opportunity to leverage both companies’ global expertise. “This announcement also highlights the continuing demand from our Japanese partners for high-quality opportunities across our development pipeline, and we look forward to working together to deliver on NSKRE’s first project in the Australian market,” said Mackellar. Headquartered in Japan,...