Tokyo Tatemono has become the second Japanese investor to join Lendlease and Nippon Steel Kowa Real Estate (NSKRE) in their A$500m (€281.8m) Australian residential project.
Tokyo Stock Exchange-listed Tokyo Tatemono has taken a minority stake from Lendlease in the 899 Collins Street, Docklands build-to-rent complex in central Melbourne.
The development, which is currently under construction and scheduled for completion in early 2027, will deliver 499 residential apartments.
The investment is Tokyo Tatemono’s first venture into a rental housing development in Australia, and its first partnership with Lendlease.
Fumio Tajima, managing executive officer – overseas business division director, Tokyo Tatemono, said: “Our collaboration with NSKRE has already proven successful in Japan, and we are pleased to extend this trusted partnership to the Melbourne market.
“By combining Lendlease’s global development and operational expertise with our long-standing experience in residential development and leasing, we look forward to contributing to the creation of a new standard in rental living in Australia.”
Tom Mackellar, CEO development, Lendlease, said: “Welcoming a highly aligned partner in Tokyo Tatemono to the project reflects the strength of our shared vision and growing confidence in the sector.
“It also highlights the strength of our network of international partners and continued demand for high quality opportunities across our development pipeline.”
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