Glen Browne’s Reside Communities hungry for growth

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The company which launched onto the market in 2018 has ambitious plans to build 348 ‘vertical’ apartments for retirees on the former 3.4ha Village Square waterfront markets site on Hope Island, over five years.

The Reside Hope Island apartments will be spread across five buildings of up to seven levels and will be adjacent to the new Woolworths-anchored Marketplace shopping centre and a hectare of green space.

Reside has a healthy war-chest with which to realise those ambitions and Browne an equally roubust pedigree as a former Aveo and RetireAustralia executive.

As we reported here, the group was set up by Brisbane-based GreenFort Capital and $11B Hong Kong property fund Gaw Capital Partners with the express aim of building a “boutique” $600M, 1500-title retirement living portfolio.

As a matter of interest Gaw Capital was a contender to buy the listed Aveo group, now under offer by Canada’s Brookfield group.