Scape, one of Australia’s biggest owner-operators of student housing, has converted its flagship purpose-built student accommodation vehicle into a A$6 billion ($3.8 billion) open-ended core fund with a 16,000-bed portfolio across 33 operational assets, reported Mingtiandi.
UBS Asset Management is a new investor in the fund. Other current investors include APG, Bouwinvest, National Pension Service of Korea, and Ivanhoe Cambridge.