Herbert Smith Freehills has advised the Clean Energy Finance Corporation (CEFC) on its A$50 million equity investment in Mirvac’s recently-launched Australian Build-to-Rent Club (ABTRC), which is the CEFC’s first foray into the build-to-rent market.
The seed asset for the ABTRC will be the Indigo apartment building, which is part of Mirvac’s Pavilions project located in Sydney’s Olympic Park. Indigo has been designed to achieve a minimum of 40% less greenhouse gas emissions than a typical apartment building.
The team from Herbert Smith Freehills advising CEFC comprised partners Fiona Smedley and Nicholas Cowie, consultant James Graham, and senior associates Yorick Ng and Japonica Sheridan.
Fiona Smedley said: “The CEFC’s cornerstone investment in the ABTRC demonstrates its leadership in the energy efficiency space. We are elated to have facilitated a transaction that will embed a range of clean energy initiatives into new residential communities.”
Nicholas Cowie added: “The team at CEFC bring a wealth of expertise to investment in real estate assets and are leaders in driving energy efficiency in construction practices. We are extremely pleased to have aided them to achieve their goal to enhance environmental sustainability in the emerging build-to-rent sector”.
Herbert Smith Freehills has advised CEFC on various transactions in the past, including its investment commitments to the agriculture platform of Macquarie Infrastructure and Real Assets, Morrison & Co Growth Infrastructure Fund, and Dexus Healthcare Wholesale Property Fund.
About Herbert Smith Freehills
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