SC Capital Partners, a Singapore-based private equity real estate firm, has announced the successful sale of a student accommodation asset in Sydney to UNSW Sydney. The property, located at 159-171 Anzac Parade and 1 Lorne Avenue Kensington, was sold at a significant premium to its acquisition price and a 19% premium to its current book value. The asset, which includes 233 student beds and a commercial podium, is strategically situated within 600 metres of the UNSW Kensington Campus.
The student accommodation, fully leased to UNSW, benefited from a 20-year master lease secured by SC Capital Partners in 2019, enhancing its income profile and valuation. Since its acquisition in 2016, the Sydney student accommodation market has seen substantial growth due to increased enrolments, highlighting the robust demand for such living assets in Australia.
Suchad Chiaranussati, Chairman and Founder of SC Capital Partners, stated, “This high-profile asset has delivered excellent value and return for our investors. As an investment manager committed to key investment thematics with strong demographic driven tailwinds, we were an early mover in the highly sought after student accommodation sector.”
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