Greystar has acquired a seven-asset, 5,662-bed purpose-built student accommodation (PBSA) portfolio in Australia for A$1.6 billion (US$1.02 billion).

This transaction solidifies Greystar’s presence in the Australian market and highlights its commitment to addressing growing demand for high-quality student housing.

The portfolio, spanning Sydney, Melbourne, Brisbane, Adelaide and Canberra, is strategically located within proximity to leading Australian universities, and the assets offer strong foundations for future enhancements. Greystar plans to upgrade the facilities, refresh branding and integrate its operational platforms to elevate the resident experience.

“This acquisition is a pivotal step in Greystar’s Australian journey,” said Wes Fuller, CIO, Greystar. “We are committed to delivering exceptional housing solutions that meet the needs of students while enhancing the quality and functionality of these properties.”

Adam Pillay, executive