- June 1, 2018: Vol. 10, Number 6

To read this full article you need to be subscribed to Institutional Real Estate Asia Pacific

Allianz and Scape form A$500m student housing JV

by Andrea Zander

Allianz Real Estate has partnered with accommodation provider Scape Australia to establish Scape Australia JV 2, an Australian dollar–denominated, close-ended fund targeting the purpose-built student accommodation (PBSA) market in Australia.

The fund is targeting an equity raise of A$500 million (US$377 million).

Allianz will own 50 percent of the fund, with the remainder to be held by like-minded long-term institutional investors, according to an announcement from Allianz Real Estate.

The fund’s strategy will leverage demand for PBSA assets across six Tier 1 cities — Sydney, Melbourne, Brisbane, Perth, Canberra and Adelaide — and build a long-term, cashflow-producing portfolio by investing in develop-to-core as well as stabilised or stabilising assets.

“Education has become the third-largest export subsector for Australia, and the purpose-built student accommodation market is markedly under-penetrated relative to the United Kingdom and United S

Forgot your username or password?

We use cookies and other tracking technologies to personalize your user experience on our site and perform site analytics. By clicking on “I accept”, you consent to our Privacy Policy.