This article is from the Australian Property Journal archive
US development and real estate investment firm Sentinel has flagged its commitment to Australia’s fledgling build-to-rent (BTR) sector with the launch of a dedicated property management platform for its BTR projects down under.
To be named Kinleaf, it will be rolled out across existing and future communities in Sentinel’s Australian BTR portfolio, which currently contains more than 1,300 units under various stages of development and operation.
The launch comes six months after Sentinel announced a $1.5 billion partnership with Dutch pension fund manager PGGM to develop and manage communities across Australia.
In line with the launch of Kinleaf, Sentinel’s 172-apartment BTR community in West Melbourne will be named The Briscoe by Kinleaf, while the operational Element 27 project in Perth’s Subiaco will be named The Elements by Kinleaf later this year.
Michael Streicker, president of Sentinel Real Estate Corporation said, “The launch of Kinleaf marks the next stage of Sentinel’s growth in Australia.
“Our focus is on continuing to grow a national portfolio of premium and well-located rental communities that deliver greater housing choices for more Australians and strong, long-term returns for investors.”
Sentinel claims to have been the the first organisation to establish a purpose-built institutional BTR community in Australia, in 2019.
“Kinleaf’s offering is grounded in providing a living experience that is focused on the renter, prioritises sustainability outcomes, and supports the creation of vibrant and engaged communities,” Streicker said.
In January this year, Sentinel announced the acquisition of a 1.4-hectare site for development in Robina on the Gold Coast, where it plans to deliver about 300 rental apartments, which will also be managed by Kinleaf. Its pipeline also includes a 175-apartment tower in Perth’s Scarborough.
Each Kinleaf community will target carbon neutral certification, a minimum 5 Star Green Star rating, and a minimum 8-Star average NatHERS (Nationwide House Energy Rating Scheme) rating. Initiatives to increase the environmental performance of communities will include solar energy and rainwater reuse strategies, electric vehicle charging stations, the selection of high-quality and durable materials with certified low environmental impacts, and enhanced waste management strategies.
Kinleaf will also aim to “sustain a vibrant and engaged community” at each of its projects through the hosting of regular social events and activities for residents.
Sentinel is enhancing its focus on the Australian market as competitors also eye off its growth opportunities. Other major institutional players and developers active in the Melbourne market include Greystar and Mirvac, Oxford and Investa, as well as Gurner, Altis, and Hines. Mirvac’s $355 million build-to-rent project overlooking Queen Victoria Market on the city’s northern edge has just opened.
Australia’s build-to-rent sector is expected to mature into a $9.6 billion market by 2027, and while federal government tax arrangements still present challenges, the Victoria and NSW governments have introduced concessions.
