Deutsche Asset Management ( formerly DWS Group ) has teamed up with residential developer FYVE and construction contractor Binah to acquire and develop its first Australian build-to-rent ( BTR ) project, located on Elizabeth Street in Liverpool, Western Sydney.
The acquisition, on behalf of one of its real estate funds, is subject to planning approval expected in 2027.
The development aligns with Deutsche Asset Management’s essential living investment initiative, which aims to build quality rental units for medium-income households across Western Sydney as well as suburban Brisbane and Melbourne.
The project, which will be Liverpool’s first major housing project in almost a decade, will transform the site into a 34-storey development and Liverpool’s tallest tower.
It will consist of approximately 414 residential apartments and feature a gym with rooftop amenities, designed to take advantage of expansive views across the surrounding area.
Strategically located in the heart of Liverpool CBD, the project is well placed to serve a large and growing essential-worker catchment within one of Sydney’s major economic and population growth corridors.
“This transaction aligns with our BTR strategy to specifically target the undersupplied mid-market segment, providing quality market rental accommodation for key workers who support the region, at relatively affordable rental levels,” says Ben Taylor, head of real estate, Australia, at Deutsche Asset Management.
The firm’s real estate platform has more than 39 years’ experience in the sector. It manages over 46,000 units and A$22 billion ( US$15.33 billion ) in residential assets across Europe and North America as of March 31 2026.
