SC Capital Partners sells Sydney student housing asset to UNSW

It has 233 student beds and a ground-floor commercial podium.

Singapore-based private equity real estate firm SC Capital Partners has sold a student accommodation property in Sydney to UNSW Sydney at a 19% premium to its current book value.

The 7,900 sqm asset, located at 159-171 Anzac Parade and 1 Lorne Avenue in Kensington, comprises 233 student beds and a ground-floor commercial podium.

Situated within 600 meters of UNSW's Kensington campus, the accommodation is fully leased to the university under a 20-year master lease secured by SC Capital Partners in 2019.

Acquired by SC Capital Partners' SC Core Fund (SCORE) in 2016, the property has benefited from rising student enrolments and a supply-demand imbalance in Sydney’s student housing sector. The sale highlights continued investor interest in living assets in Australia, driven by long-term growth potential.

“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," said Suchad Chiaranussati, chairman and founder of SC Capital Partners.

"Other high conviction strategies that are a key focus for the firm include hospitality and data centres, where we continue to see a strong pipeline," he added.

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