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MinterEllison advising on deal with global investor in student accommodation sector
MinterEllison has advised a Singaporean investment fund in regards to the international sale of student accommodation units for $568 million.
Simon Levett
Firm: MinterEllison (Wee Hur)
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Deal: Perpetual (Asia) Limited is acting as a trustee for Wee Hur PBSA Master Trust in the sale of student accommodation to a global institutional investor.
Value: $568 million
Area: Corporate
Key Players: Wissam Abwi, partner at MinterEllison
Deal Significance: The deal represents a return of confidence to the much-beleaguered student accommodation sector, which suffered during the COVID-19 pandemic.
The entire transaction is valued at $1.14 billion once future accommodation is built. Student accommodation assets are based in Sydney, Melbourne, Brisbane, Canberra and Adelaide.
MinterEllison partner Wissam Abwi said that “this sale represents the global, long-term confidence in Australia’s student housing prospects and other emerging assets. With international students once again being welcomed following the CCOVID-19 lockdowns, it represents the market’s optimisation that this sector will re-emerge strongly.”
