This represents Greystar's first foray into the market
Allens has advised global real estate company Greystar on its acquisition of a $1.6bn Australian purpose-built student accommodation (PBSA) portfolio.
The transaction represents Greystar’s first foray into Australia’s student accommodation market and adds to its pipeline of build-to-rent projects in the country.
“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”, Allens partner Penny Nikoloudis said.
The firm described the acquisition as being one of the biggest of its kind in Australia. The portfolio is composed of seven PBSA assets located in Sydney, Melbourne, Brisbane, Adelaide and Canberra.
The multidisciplinary team that tackled this deal consisted of the following lawyers:
Real estate and development
Funds, super and financial services
Finance, banking and debt capital
M&A and capital markets
Foreign investment
Projects
