Blackstone enters Australian student housing market, buys Student One

Blackstone has purchased Brisbane-based Student One for more than A$500 million ($322 million), according to sources, marking its first student accommodation investment in Australia and in the broader Asia Pacific region.

The portfolio consists of three assets with 2,300 beds, located in Brisbane’s central business district.

In 2020, Blackstone acquired the U.K. student accommodation firm iQ in a £4.7 billion (€5.5 billion/$5.89 billion) deal.