King & Wood Mallesons (KWM) has advised ANZ in its role funding an innovative new private development financing for Super Housing Partnerships (SHP), which includes social, affordable and market housing and specialist disability accommodation.
The transaction will serve as a precedent for SHP’s future developments to increase affordable housing supply in Australia.
The KWM team was led by Partner, Claire Rogers (Head of Climate and ESG) with support from Partner, Katherine Vines and Senior Associate, Matthew Hundt.
Commenting on the deal, Partner, Claire Rogers (Head of Climate and ESG) said:
“It was a pleasure to work with ANZ on this important transaction which responds to the affordable housing challenge in Australia”.
The transaction comprised a complex funding structure with elements of both project finance and real property finance. The result is a unique hybrid structure to facilitate this transaction and serve as the foundational structure for future developments being completed by SHP.
Further commenting on the deal, Partner, Claire Rogers said:
“It’s our hope that this innovative private development structure of funding will assist SHP in their roll out of future developments across Australia”.
KWM also recently advised the National Housing Finance and Investment Corporation in relation to the funding of the second stage of the redevelopment at the Flemington precinct, which is being delivered in partnership between Homes Victoria and not for profit project group Building Communities.
