Allens has advised InfraRed Capital Partners on the sale of the Curtin University Student Accommodation project in Perth to IFM Investors. The mixed-use project includes student and private accommodation, a hotel, commercial space and retail facilities.
The transaction highlights ongoing investor interest in the student accommodation sector, which has seen a resurgence in activity following the return of international students and continued demand for high-quality purpose-built accommodation.
'This was a complex and high-profile transaction in a sector that continues to attract strong institutional interest. It was a pleasure to work closely with InfraRed and our colleagues across the firm to help deliver a successful outcome,' said lead transaction Partner Mark Malinas.
'We're very pleased to have supported Infrared across the lifecycle of this project: from the initial proposal to Curtin, to financial close, through construction, Probuild's insolvency, disputes, refinancing and now a successful sale and exit,' added Head of Projects and Development David Donnelly, who led the firm's engagement on the asset.
'They've created a quality business and real value, and we've brought skills and experience from across the breadth of our firm to help them do that.'
Earlier this year, Allens advised Greystar on its $1.6 billion acquisition of a national student accommodation portfolio.
