Insights > Deals
M&G buys Melbourne's Bowen Crescent for A$215 million
27 October 2026 | Asset acquisition | Australia | 215 units | Operational
The completed apartment building gives M&G's Asia Living strategy its first Australian build‑to‑rent asset.
Key details
Asset type | Operational |
Location | Melbourne, Australia |
Capacity | 215 units |
Buyer | M&G Real Estate |
Seller | Undisclosed |
Value | A$215 million |
Bowen Crescent comprises 215 one-, two- and three‑bedroom apartments across 17 storeys, close to Anzac station. Residents have access to co‑working space, a gym and a swimming pool.
The purchase is the sixth investment made by M&G's Asia Living strategy in less than two years.
Strategic context
M&G already has an Australian build‑to‑rent development partnership with Novus, while its regional living strategy has invested in Japanese and South Korean multifamily housing.
Buying a completed Melbourne building adds an operating assets alongside its existing development investments. The transaction brings the Asia Living strategy's total assets to US$500 million and expands its geographic reach.
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