Investment · Development · Living

Living
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THE KEY LIVING COMPANY

We unlock opportunity in Australia's living sector — identifying, understanding and creating opportunities to develop and invest in institutional-grade Build-to-Rent and Co-Living communities that deliver attractive risk-adjusted returns alongside exceptional resident experiences.

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Build-to-Rent
Build-to-Rent
Co-Living
Co-Living
Tactical
Tactical
Living sector — pathways between buildings

About Us

Where deep expertise meets fresh conviction

The Key Living Company is a specialist investment management and property development firm focused on Australia's rapidly evolving residential living sector. We identify, shape and invest in opportunities across build-to-rent, co-living and related asset classes — combining a pioneering track record in Australian institutional BTR with the investment discipline to underwrite, structure and deliver assets that create enduring value for our partners.

Our principals each bring over 25 years of experience across funds management, capital markets, property development and investment — forged across Australia, Asia Pacific, Europe and North America. From investment thesis and capital formation through to site origination, development delivery and portfolio management, we bring the full spectrum of capability that sophisticated opportunities demand.

Funds Management
Structuring, capitalising and managing investment vehicles across the living sector for institutional and private capital.
Development
End-to-end development capability from opportunity origination and acquisition through to practical completion and stabilisation.
Asset Management
Active portfolio and asset management to optimise performance and deliver attractive risk-adjusted returns.
Living Operations
Resident satisfaction and community outcomes that sustain occupancy and retention, optimise revenue and protect and grow asset value.

Our Expertise

Specialist capability across the living sector

We focus where deep sector knowledge creates an enduring advantage — in segments of the Australian living sector that are reshaping how Australians live and how capital is deployed into housing.

Build-to-Rent
Purpose-built rental communities targeting Australia's deep structural housing undersupply — where purposeful design and professional management drive enduring resident demand, resilient income and long-term capital appreciation.
Co-Living
An innovative living format targeting a fast-growing urban demographic — co-living delivers a compelling and differentiated resident proposition, and an investment case that is attracting increasing attention from institutional capital.
Tactical
Selective opportunities pursued where market conditions, site characteristics and return profiles align — including student housing, build-to-sell and mixed-use developments with a meaningful living component.
Funds Management
Structuring, capitalising and managing bespoke investment vehicles for institutional and private capital seeking exposure to one of Australia's most compelling long-term real estate investment themes.
Development Management
Full development lifecycle expertise — applied through an investment lens, from opportunity origination, planning strategy and design through to procurement, construction oversight and practical completion — managing risk, protecting returns and creating value at every stage.
Living Operations
Operationally excellent living environments with rigorous management discipline that foster genuine community connection and elevate the resident experience — sustaining occupancy, optimising revenue and protecting and growing asset value over the long term.

Our Approach

Disciplined
Rigorous
Aligned

01
Market Identification
Disciplined market selection grounded in deep sector knowledge — targeting locations defined by structural undersupply and strong, demonstrable rental demand drivers — prioritising Australian residential markets where the fundamentals are most compelling and the opportunity most enduring.
02
Opportunity Sourcing
Deep market relationships and direct engagement with site and asset owners drive a proprietary pipeline of opportunities — accessing deals early, off-market and ahead of broader competition, with the structuring capability to create transactions where others see only complexity.
03
Investment Underwriting
Every opportunity is underwritten with rigorous financial discipline and direct principal involvement — stress-testing assumptions across the full investment lifecycle from lease-up and stabilisation through to exit, informed by sector knowledge built through originating, funding and delivering some of Australia's largest institutional living sector investments.
04
Development Execution
Development execution managed with the same investment discipline applied at underwriting — preserving cost certainty, programme delivery and design quality from planning and procurement through to practical completion, with principal-level oversight at every stage.
05
Operational Excellence
Post-completion asset management focused on the metrics that matter — occupancy, revenue optimisation, disciplined expense management and net operating income growth — drawing on deep operational knowledge of the living sector to protect and grow asset value over the hold period.

A specialist firm with institutional capability and a rare sector pedigree — bringing principal-led focus, deep sector expertise and genuine conviction in the living sector's long-term fundamentals. Built around the discipline to move decisively and the expertise to execute — and driven by a singular focus on delivering outcomes our partners are proud to own.

Speak with our principals →

How We Work

What we offer our partners

We unlock opportunity across three distinct engagement models — working with a focused group of partners to identify, structure and deliver institutional-grade outcomes in the Australian living sector.

01
Capital Partners
We originate, structure and manage bespoke investment vehicles for institutional and private capital seeking exposure to Australian BTR, co-living and related living sector assets. We act as investment manager and development manager — sourcing opportunities, underwriting investments, managing development delivery and optimising asset performance through the hold period.
Fund Management Co-investment Separate Account
02
Landowners & Vendors
We work with landowners, developers and vendors to unlock value in sites and assets suited to institutional living sector use. Whether through direct acquisition, joint venture or a structured development management arrangement, we bring the capital relationships, sector expertise and execution capability to create and deliver compelling outcomes.
Acquisition Joint Venture Development Management
03
Development Partners
We collaborate with developers, builders and operators who share our commitment to institutional-grade living sector outcomes. We bring investment discipline, capital access and living sector operational expertise to partnerships — structuring arrangements that align incentives and deliver assets that perform for investors and residents alike.
Forward Funding Forward Sale Build-to-Core

Living

Where great housing unlocks great lives

Well-designed, professionally managed communities don't just attract residents — they create genuine homes where residents feel they belong and are free to live. That sense of belonging is the foundation of assets that endure.

Residents gathering in communal kitchen
Fostered Community
Thoughtfully designed and operated spaces that bring people together. From shared amenities to community programming, genuine connections form naturally among residents — reducing isolation and creating the sense of belonging that turns a building into a community.
Resident lounge — professionally managed
A Place You Trust
Safe, well-maintained, professionally managed properties are places residents are proud to call home — managed to the standard that every resident deserves and every investor should demand.

Our Principals

Principal-led. Sector-focused. Conviction-driven

Built around rare sector pedigree and deep institutional capability — bringing together the investment discipline, capital markets expertise and development execution that the living sector's most sophisticated opportunities demand.

Chris Key
Chris Key
Founder & Managing Director
25+Years across funds management, capital markets, property development and investment
A$1.3bnInstitutional equity raised for Australia's first dedicated institutional BTR fund
~2,500BTR units originated and managed across NSW and VIC
A$10bn+Complex portfolio, platform and capital markets transactions

Chris founded The Key Living Company on the conviction that Australia's living sector represents one of the most compelling long-term investment opportunities in the region — and that genuine sector expertise is the critical determinant of who can unlock and capture it.

Chris was among the first to identify and act on the institutional BTR opportunity in Australia. As founding Managing Director of Greystar's Australian platform, he conceived the market entry strategy, raised A$1.3bn in institutional equity for Australia's first dedicated institutional BTR fund from global pension funds, and built a development pipeline of ~2,500 units and a 35-person vertically integrated team — establishing one of the country's largest and most recognised BTR platforms from inception.

His earlier career at Macquarie Capital, Goldman Sachs and JLL delivered deep transaction and capital markets experience across more than A$10bn in complex portfolio, platform and capital markets transactions across listed and unlisted markets — advising Australia's leading real estate companies, REITs and institutional owners on their most significant transactions and strategic decisions across domestic and international markets.

Forged by global best practice across North America, Europe and Asia Pacific, and with the local market knowledge that only comes from building the sector from the ground up, Chris brings a rare combination of conviction, capital relationships and operational understanding to The Key Living Company.

Norm Roumanous
Norm Roumanous
Development Partner
25+Years across property development, construction and project management
A$8bn+In real estate assets originated, delivered and managed
Multi-sectorResidential, mixed-use, commercial, retail and industrial
GlobalAustralia and the Americas

Norm brings over 25 years of end-to-end development expertise to The Key Living Company — spanning origination, acquisition, feasibility, capital raising, delivery and asset management across some of Australia's most complex and high-profile real estate projects.

Norm's living sector credentials are deeply rooted in his time at Greystar, where as Director of Development and Acquisitions he played a central role in delivering the Australian BTR platform's development pipeline — including some of the country's largest and most recognised institutional BTR projects. His earlier career spans Charter Hall, Walker Corporation and Australand in Australia, and Youngwoo & Associates in New York — where he delivered large-scale mixed-use and commercial projects including the landmark Pier 57 waterfront marketplace.

A rare combination of financial and technical capability — holding both an unrestricted builder's licence and a Graduate Diploma in Finance and Investment — Norm brings the full development lifecycle expertise that institutional living sector investment demands.

Selected Prior Experience

Institutional living sector assets — originated, developed and delivered

Projects in which our principals held direct development responsibility — originated, delivered or managed prior to the establishment of The Key Living Company.

South Melbourne, VictoriaBuild to RentCompleted 2024
South Melbourne, Victoria
700Units
3Towers
A$500mEnd Value
South Yarra, Victoria — BTRBuild to RentCompleted 2024
South Yarra, Victoria
382Units
30Levels
A$500m*End Value
South Yarra, Victoria — Co-LivingCo-LivingCompleted 2025
South Yarra, Victoria
235Units
21Levels
A$500m*End Value
Zetland, New South WalesBuild to RentUnder Construction
Zetland, New South Wales
187Units
7Levels
A$250mEnd Value
Zetland, New South WalesBuild to RentUnder Construction
Zetland, New South Wales
135Units
5Levels
A$170mEnd Value
Waterloo, New South WalesBTR / BTSUnder Construction
Waterloo, New South Wales
440Units
6–20Levels
A$500mEnd Value
Fitzroy, VictoriaBuild to RentIn Development
Fitzroy, Victoria
200Units
11Levels
A$200mEnd Value
Kensington, VictoriaBuild to RentUnder Construction
Kensington, Victoria
443Units
7Levels
A$360mEnd Value

* Combined end value across South Yarra, Victoria (BTR) and South Yarra, Victoria (Co-Living), forming part of a single dual-tower development on Yarra and Claremont Streets.
All project end values are estimated values on a stabilised basis.

Contact

Let's talk about what's possible

Whether you're a capital partner, landowner or collaborator, we'd welcome a conversation about how we can work together.

Location
Sydney, New South Wales, Australia