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Sign in Sign up for a FREE subscriptionBarings enters APAC market
Barings has expanded its real estate debt activities to Asia Pacific with three new loans in Australia and New Zealand, worth more than A$ 320.4 million ($216.2 million).
In Australia, Barings has agreed an aggregate of A$ 259.3 million ($174.3) loans. In Sydney, the team has provided two loans totaling A$ 162.5 million ($109.6) to Scape, a high-quality sponsor and operator with well-known international institutional equity backers, to fund the construction of two purpose-built student accommodation (PBSA) projects with a total of 517 beds.
Separately, in Brisbane, Barings provided A$ 40.3 million ($27.2 million) to a five-year, investment-phase facility on a recently completed build-to-rent (BTR) project in Brisbane. Developed and managed by Arklife on behalf of national construction and development company ADCO Constructions, the project comprises 89 rental apartments, 200 square meters (2,153 square feet) of office and 140 square meters (1,507 square feet)
