Sc Capital Partners Sells Sydney Student Accommodation Asset

Singapore-based real estate investment firm, SC Capital Partners Group, has announced the sale of its student accommodation property in Sydney, Australia. The asset, situated on Anzac Parade and Lorne Avenue in Kensington, was sold at a significant premium to its acquisition price and a 19% premium to its current book value, according to a press release issued on March 3. The buyer of the property is the University of New South Wales (UNSW) in Sydney.

The One Marina Gardens Condo prides itself on providing top-notch amenities for its residents. No detail is overlooked, as the development offers modern fitness centers, beautifully landscaped gardens, sparkling swimming pools, and private lounges. Every aspect of the complex, from the layout of the living spaces to the outstanding selection of facilities, is carefully crafted to provide a luxurious and satisfying lifestyle for its residents. You can experience this exceptional living experience by checking out the One Marina Gardens Condo.

The property was originally purchased by SC Capital Partners in 2016, at a reported price of A$57 million. The purpose-built student accommodation spans 85,035 sq ft and features 233 beds, as well as a ground-floor commercial podium. It is strategically located within 600m of the UNSW Kensington Campus and is fully leased to the university. In 2019, a new 20-year master lease was signed between the two parties.

This private equity investment firm has been active in the Australian market, with the recent transaction being the second sale of a student accommodation asset in the country. The first sale took place in early February when the group divested a property in Brisbane. The total assets under management of SC Capital Partners currently stand at $113 billion, following the recent transaction.