The Urban Developer: What’s behind MaxCap’s push into Sydney?
Real estate investment manager MaxCap Group is doubling down on the New South Wales market.
In this TUD+ Briefing, MaxCap’s state director, NSW David Oudshoorn explains why the non-bank lender is eyeing opportunities in the state, and where those opportunities lie, now and into the future.
Oudshoorn said that the group has had a national presence—skewed to Victoria, but that was changing.
He said MaxCap’s institutional partners were looking to deploy capital and that they wanted exposure to the gateway city of Sydney.
“Rising house prices make apartments more compelling and that’s where a lot of our funding tends to be directed towards,” Oudshoorn said.
“There is a strong push from our partners and within MaxCap to take advantage of those conditions to push into this market, as well as outside Sydney, such as Newcastle and Canberra.”
He said that putting Covid to one side, the house prices in Sydney were creating a move away from the city to those centres, and that MaxCap saw a real opportunity from that growth.