EPISODE 13: Capital Markets Unpacked: Key Trends and Property Insights

In this episode, Richard Temlett is joined by David Woodward, CEO of Global Apartment Advisors (GAA) and a key figure in the Build to Rent (BTR) sector globally. David shares his insights into the emergence and maturity of BTR markets in the USA and the UK, discussing how and why this asset class took root in these regions and how it compares to other markets around the world, including Australia. Throughout the episode, David dives into the fundamentals of BTR, explaining its target markets, design priorities, and rental premiums, while drawing comparisons to other asset classes such as student accommodation, hotels, and office spaces.

He also delves into the financial metrics critical to BTR success - cap rates, discount rates, internal rate of return (IRR), and operational expenses - highlighting the intricacies of take-up rates, turnover rates, and the decision to offer furnished vs. unfurnished units. As BTR continues to grow in Australia, David shares essential lessons and how GAA aims to add value and support the sector’s development here.

Further to his role as CEO of GAA, an international advisory firm focused on residential real estate, David is also Chairman of GAA-AUS, a Sydney-based investment management platform. With over 25 years’ leadership experience, David has played a pivotal role in the BTR space, serving as Global Head of Multifamily at Brookfield US and CEO at Fortress Investment Group. Notably, he led the turnaround of Stuyvesant Town in New York City, the largest rental apartment community in the US, culminating in its landmark sale to Blackstone. David’s experience spans real estate investment, asset management, property management and development, making him a leading authority in the BTR space worldwide.

Whether you're a developer, investor, or simply interested in Australia’s evolving property landscape, this episode offers valuable insights into how global BTR expertise can shape Australia’s market. Tune in to explore the strategies and lessons that could redefine rental housing here at home.

EPISODE LINKS
David Woodward LinkedIn
Global Apartment Advisors (GAA)

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This podcast is for educational purposes only and should not be considered investment or financial advice. This podcast is not intended to replace or supplement professional investment, financial or legal advice. Please seek professional advice based upon your personal circumstances. The views expressed by our podcast guests may not represent those of Charter Keck Cramer. This podcast may not be copied, reproduced, republished or posted in whole or in part without the prior written consent of Charter Keck Cramer.