Metrics Credit Partners, best known about as being one of Australia’s largest non-bank lenders, is diversifying further into equity by partnering with developer Billbergia to acquire a site overlooking Sydney’s Hyde Park for about $500 million.
The lender and developer acquired the 338 Pitt Street site – which vendor Han Group had variously put on and taken off the market over the past three years – and plan a two-tower, mixed-use development with an end value of about $3 billion, similar to the scheme already approved for the site.
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