CAREIT enters Sydney market as debt fuels $280.1m buy

The newly completed property sits near Macquarie University and will operate under Centurion’s premium EPIISOD brand.

Centurion Asset Management Pte. Ltd. has completed its acquisition of the 732-bed student accommodation EPIISOD Macquarie Park.

The manager of Centurion Accommodation REIT (CAREIT) said in a bourse filing that the $280.1m acquisition was completed pursuant to a Forward Purchase Agreement and the issuance of the certificate of Practical Completion. The transaction was fully financed through committed debt facilities.

EPIISOD Macquarie Park is a newly developed asset located in Sydney, Australia. It is situated near the Macquarie University, Macquarie Park Shopping Centre, the Macquarie University Metro Station and surrounding employment hubs.

The asset will feature various lifestyle amenities, including a rooftop pool, terrace lounge, dining area with a BBQ facility, a wellness centre with a commercial-size gym, a yoga studio, and a full-service cafe.

CAREIT has also entered into a master lease with the EPIISOD Macquarie Park Master Tenant, Centurion Properties Pte. Ltd. and the Centurion Corporation. The master lease will be in place until 31 December 2027, with a security deposit equivalent to two months’ rent, step-in rights and a corporate guarantee.

The property will be operated under the EPIISOD brand, a new premium student accommodation brand pioneered by Centurion Corporation Limited

The acquisition represents CAREIT’s first purpose-built student accommodation asset investment in Sydney, following its initial public offering in September 2025 and entry into a second Australian city.

Following the completion of the acquisition, CAREIT maintains healthy debt headroom, which will allow it to pursue asset enhancement initiatives within its existing portfolio and acquisition opportunities.