Allens has advised global real estate leader Greystar on its landmark acquisition of a $1.6 billion purpose-built student accommodation (PBSA) portfolio in Australia.
The acquisition, one of the largest of its kind in the Australian market, includes seven high-quality PBSA assets located across Sydney, Melbourne, Brisbane, Adelaide, and Canberra. The acquisition is Greystar's first entry into the Australian student accommodation market and complements its strong pipeline of build-to-rent projects in Australia.
'Having worked closely alongside Greystar since its arrival in Australia, we are proud to have supported them on this landmark transaction, which reinforces its position as a leader in the living sector in Australia and globally,' said Partner Tim Chislett.
'This acquisition highlights the increasing private capital interest in student accommodation and the strong demand for high-quality, well-located PBSA assets. We are proud to have played a role in enabling this significant market development,' said Partner Penny Nikoloudis.
The matter demonstrated Allens strengths working across many practice groups, including real estate, funds, finance, corporate and construction.
