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The Urban Developer
After testing the market with a small-scale affordable housing development in Sydney, property advisory group Development Finance Partners (DFP) is tapping investors for $5 million for a further three, small-scale developments.
According to DFP principal Baxter Gamble, there is a significant appetite among many investors, in particular the trustees of self managed super funds, looking for low-risk, quick turnaround projects that deliver yield.
“Our first foray into the affordable housing market was the development of a small eight townhouse project in Kirrawee, Sydney,” Baxter said.
“DFP sourced finance and took equity in the development.
“Its success and the fact that it reflects the core of our group’s social values prompted our involvement in a further two projects.