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Scape seeks up to A$1B from global investors for urban living expansion

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Scape seeks up to A$1B from global investors for urban living expansion

Student accommodation provider Scape Australia is fielding inquiries from global investors to commit up to A$1 billion for its planned expansion into urban city living developments, IPE Real Assets reported Oct. 14.

The capital arising from the negotiated deals are expected to be used for the development of properties that will feature both student accommodation and city living housing.

The company, which owns and manages a A$5 billion purpose-built student accommodations across Australia, intends to add 500 more city living units to its portfolio, with the planned properties expected to be primarily in Melbourne. In the same city, Scape Australia is working on the construction of the world's tallest student housing tower that will feature 125 city living apartments and 12,000 square meters of coworking space upon its expected completion in early 2021.