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Australia: Scape Australia buys student housing assets worth £50m

Scape Australia has acquired a portfolio of student housing assets comprising 428 beds from University of Technology Sydney for its Scape Student Core Fund, IPE Real Assets has reported.

IPE Real Assets reported that the consideration for the deal is believed to be A$95 million (£50.9 million).

Craig Carracher, co-founder and executive chairman of Scape Australia, said the firm is on track to establish 25,000 student beds in Australia, adding: “We have 16,000 beds today, we have 6,000 under construction and approved for development, and we are working on a further 3,000.”

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