Property developer Match Group's funds management arm has launched a pair of syndicates to acquire and develop two sites in Leederville and Mount Lawley.
Property developer Match Group's funds management arm has launched a pair of syndicates collectively worth $9.5 million to acquire and develop two sites, in Leederville and Mount Lawley.
Match said both sites were identified as suitable development sites to complement the group’s growing portfolio.
In Mount Lawley, the Burt Walcott Development Trust is seeking $4.5 million to develop a 29-apartment project on Walcott Street, with 430 square metres of retail space.
Meanwhile, in Leederville, the Carr Place Development Trust is seeking $5 million to build 39 apartments and 250sqm of retail space near the Oxford Street cafe strip.
The syndicates are Match’s 21st and 22nd developments, respectively.
Match managing director Lloyd Clark said interest in the company’s syndicates was increasing, following the launch of its first trust in December last year.
“Match has cultivated a formula that has today produced a number of lucrative developments,” he said.
“The company has a track record of identifying and securing strategic sites, as well as the capacity to develop them to market demand.
“It has been a considered evolution into a vertical operation that integrates the property development process and represents a value proposition for investors.”
Mr Clark said Match had more than $60 million of investor funds under management, with projects in development exceeding $400 million.
“The newly-opened Match Asia in Kuala Lumpur provides a direct pathway into the Asian market, and together with our track record of success, Match is today recognised as a highly credible and lucrative investment platform,” he said.