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Student accommodation business Scape Australia has acquired the $2 billion portfolio of dorms run by Urbanest.
Source: scape.com/en-au/student-accommodation/sydney/abercrombie
Firm: Herbert Smith Freehills (Scape Australia).
Area: Real estate.
Value: $2 billion.
Key players: The HSF team was comprised of lawyers from its real estate, finance and corporate teams in both Melbourne and Sydney.
Deal significance: Speaking about the deal, HSF head of real estate David Sinn said: “We are delighted to have supported Scape on this truly iconic transaction, and to see them continue to emerge as a standout player in student accommodation in Australia.”
“This is an exciting time for the sector, with significant growth across the country in recent years, and we’ve no doubt Scape will continue to go from strength to strength,” he said.
Jerome Doraisamy is the managing editor of Lawyers Weekly and HR Leader. He is also the author of The Wellness Doctrines book series, an admitted solicitor in New South Wales, and a board director of the Minds Count Foundation.
You can email Jerome at:
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Jerome Doraisamy
