Scape Australia has raised further capital for its recently established A$6 billion ($3.9 billion) Core Purpose-Built-Student-Accommodation (PBSA) Fund.
The new open-end, liquid structure was well received by investors and has attracted a new commitment from clients of CBRE Investment Management’s Indirect Private Real Estate Strategy (CBRE IM Indirect). Scape is anticipating further commitments from multiple investors in the next few months.
The fund is the first of its kind in Australia, with an in-place portfolio of 33 operational student accommodation assets with 16,300 beds in Sydney, Melbourne, Brisbane and Adelaide.
The fund will continue to grow its market leading position in the Australian PBSA sector and will have access to Scape Australia’s approximately 6,000-bed development pipeline and market portfolio opportunities as the sector consolidates and matures. The Fund provides investors with efficient access to the attractive fundamentals of PBSA in
