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Sign in Sign up for a FREE subscriptionBrookfield acquires stake in Journal Student Living
Brookfield Asset Management has acquired a 50 percent stake in Journal Student Living, an Australian student accommodation operating platform.
The interest was acquired from integrated property business Citiplan, which will continue to own the other 50 percent interest.
Brookfield and Citiplan formed a joint venture in December 2021 to develop purpose-built student accommodation (PBSA) projects in the country. The venture has three projects totaling 2,500 beds currently under construction in Melbourne and Brisbane, with Journal set to manage the A$1 billion ($650 million) portfolio when completed.
“Education is Australia’s fourth-biggest export. We have the third-highest number of enrolled international students globally bu
