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.
Allens legal team
Real Estate & Development:
Tim Chislett (Partner), Sam Fisher (Senior Associate), Adele Carrubba (Senior Associate), Ilaria Corbett (Senior Associate), Shirley Shen (Associate), Kevin Ren (Lawyer)
Funds, Super and Financial Services:
Penny Nikoloudis (Partner), Jamil Diu (Senior Associate), Hannah O'Flynn (Senior Associate), Emily Tate (Lawyer)
Finance, Banking & Debt Capital:
Mark Kidston (Partner), Emma Nicholson (Senior Associate), Nat Bogatyreva (Associate)
M&A and Capital Markets:
Chris Blane (Partner), James Nguyen (Managing Associate), Chris Yuan (Associate), Moussa Mourad (Associate)
Foreign investment:
Wendy Rae (Partner), Andrew Wong (Counsel)
Projects:
David Donnelly (Partner), Soha Refaat (Associate)