Australia & New Zealand

Singapore-based private equity real estate firm SC Capital Partners has sold a student accommodation property in Sydney to UNSW Sydney at a 19% premium to its current book value. The 7,900 sqm asset, located at 159-171 Anzac Parade and 1 Lorne Avenue in Kensington, comprises 233 student beds and a ground-floor commercial podium.

The founders of student housing provider Scape have filed plans for NSW’s largest build-to-rent development, a $1.5-billion proposal for Sydney’s inner west.

Built, with developers Sirona Urban and Australian Unity, alongside MaxCap Group and UniLodge, have celebrated the topping out of the 30-storey UniLodge Perth Central purpose-built student accommodation (PBSA) development in the heart of Perth’s CBD.

New South Wales’s largest built-to-rent project could rise over the site of the Marrickville Timberyards after the developers – Built to Rent Co, the new spine off from student housing giant Scape – lodged plans for the $1.5 billion development site with the NSW government today.

Victoria University of Wellington has sold off student flats for more than $6 million in a bid to clear its deficit. The university had listed two dozen Wellington properties spread over eight titles for sale in September last year after deeming them not fit for purpose.

Owner and developer Cedar Pacific has topped out at its new purpose-built student accommodation (PBSA) scheme in Auckland, New Zealand. The development’s topping out marks a significant milestone in the project’s timeline – the completion of the primary structural framework of this project.

Adelaide’s 186-year-old Holy Trinity Church precinct would welcome 1000 new neighbours under plans for a 30-level student accommodation tower on the heritage site.

The Financial Review, quoting sources, claims four companies want to buy the leading retirement village operator owned by Brookfield, stating the leading student accommodation developer Scape is through to the second round of the possible $3.5 billion auction.

Australia’s biggest owner-operator of student housing, Scape, 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.

Australia’s biggest owner-operator of student housing, Scape, has secured a A$700 million ($434.3 million) equity commitment from South Korea’s National Pension Service for a suite of living sector investment strategies, the parties announced Thursday.