AXA Investment Managers – Real Assets , a global leader in real asset investments and the leading real estate portfolio and asset manager in Europe announces that it has entered the Australian Student Accommodation market by partnering with Scape, a leading operator and manager of student accommodation assets, and Allianz, another global insurance group , in acquiring a portfolio of six operational assets totalling 3,510 beds from the Atira Student Living platform .
The Portfolio is well diversified with assets located in Melbourne, Brisbane and Adelaide which are in close proximity to some of Australia’s top Universities such as University of Melbourne and University of Queensland. The assets offer a variety of room types from studios to twin shares and cluster apartments. The amenity offering of the assets is of a high standard with features such as roof top pools, games rooms, private study areas, theatres and communal areas to encourage social interaction amongst students. The portfolio is very modern with the average asset age being less than two years.
The Venture intends to make further investments in the sector to create a pre-eminent portfolio of student housing assets in Australia. As part of the partnership with Scape, the Venture will have exclusive access to Scape’s extensive development pipeline, from which it can selectively acquire assets.
This acquisition sees AXA IM – Real Assets build on its extensive global student housing expertise comprising a portfolio of over 11,400 beds. Expanding into the Australian student accommodation market is consistent with its strategy of investing in alternative real asset sectors in the APAC region.
Source : AXA IM