Developer chooses Melbourne for unique BTR portfolio
Aziz ‘Ozzie’ Kheir is establishing Australia’s first build to rent portfolio of low density homes, in Melbourne.
The developer’s Resimax intends to build and put aside 500 properties in estate it controls an Eynesbury (pictured, top), Mernda and Wallan.
Upon completion, the investments should be worth in excess of $250 million.
The group intends to retain up to 10pc of upcoming housing estates for this kind of product – relatively new to Melbourne and to date, focused on inner city, high density product also with ‘resident only’ perks like gyms, cinemas, dining rooms, libraries and co-work spaces.
No lawnmower needed
The initiative will also see the landlord take over chores like gardening (story continues below).
Resimax’s Tick Homes will build the dwellings.
Leap Real Estate will lease and manage them. Homes have been listed since late last year.
Mr Kheir was part of a consortium which recently sold Flinders Lane’s Adelphi hotel to Mark Toma’s Vertical, banking nearly $25m.
Also a racehorse owner, the investor in 2020 divested West Melbourne’s six storey former Sands and McDougall headquarters at 355 Spencer St, for $38.5m to Avari Capital, and a neighbouring property, on Jeffcott St, for $9.5m.
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