Stage two of the $1.2 billion build-to-rent Caulfield Village development resumes

Following the appointment of administrators to Probuild earlier this year, Arnold Bloch Leibler has advised a consortium led by Beck Property Group in relation to the new build-to-rent development at Caulfield Village, forming part of the Caulfield Village Racecourse redevelopment project. The consortium, engaged as developer under a fund-through deal with Blackstone, initially engaged Probuild as head contractor for the BTR project.

Property & Development partners Kevin Frawley and Dorian Henneron advised the consortium on the takeover of works from Probuild and recommencement of the works on site – including the appointment of a replacement builder and associated negotiations with Probuild’s administrators (Deloitte) and Blackstone.

Kevin Frawley commented on the development: “The appointment of administrators to Probuild provided significant challenges for the project. We are now pleased to see the project progress and we look forward to seeing one of the city's newest and most exciting BTR developments complete.”

Dorian Henneron added: “Having advised on the initial development fund-through deal with Blackstone, we’re very pleased to see that the development has resumed with minimal delay or disruption. ”

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