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ubs asset management invests in scape australia's student housing fund
Scape Australia has transformed its flagship student accommodation vehicle into a A$6 billion ($3.8 billion) open-ended core fund, featuring a portfolio of 16,000 beds across 33 operational assets. UBS Asset Management joins existing investors such as APG, Bouwinvest, National Pension Service of Korea, and Ivanhoe Cambridge.
ubs asset management invests in scape australias six billion dollar student housing fund
Scape Australia has transformed its A$6bn student housing fund into an open-ended core fund, attracting UBS Asset Management as a new investor. The Scape Core Fund will acquire a A$1.9bn portfolio of eight assets, bolstered by A$1bn from existing investors, including APG and South Korea’s National Pension Service. This structure aims to provide strong cash flow and growth potential while minimizing exit risks, with the fund set to manage 16,000 student beds, including its largest asset in Melbourne.