IFM Investors has invested A$50m (€30m) in Smart Urban Properties Australia (SUPA), Australia’s first unified services provider of converged utilities and communications infrastructure.
SUPA Group’s CEO Geoff Horth said the investment from IFM Investors would provide growth capital to deliver its existing pipeline of projects, while allowing the company to make further investments to increase its market share.
“Over several months working with the IFM team, it has become clear that this opportunity is in the best long-term interests of the company. IFM’s relationships and networks, our alignment on strategy and ambition and our shared values provide the ideal platform for us to deliver outstanding returns for all SUPA investors,” he said.
SUPA, which was formed last year, creates smarter and more sustainable properties by bringing together renewable energy and mobility, fibre broadband and smart property technology.
Jeremy Larkin, an executive director at IFM Investors, said SUPA had a proven, resilient business model and an actionable growth agenda.
“We are delighted to be partnering with SUPA on their mission to improve the lifestyles of people living and working in apartment complexes and other multi-dwelling properties across Australia.”
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