AXA Group joins Allianz to back Scape Australia student housing fund

Allianz Real Estate has been confirmed as a cornerstone investor, committing A$700m (€435m) together with AXA Group, in the core Australian student accommodation fund managed by Scape Australia.

As reported by IPE Real Assets on Friday, Allianz Real Estate will cornerstone the fund with an initial commitment of 30% of the equity (A$450m), on behalf of several Allianz companies.

In a joint statement, the companies said Paris-based AXA, a first-time investor in Scape Australia, is initially committing A$250m to Scape Australia’s closed-end core programme.

The fund is expected to raise A$1.5bn in equity and build up a portfolio worth A$4bn.

Read more: https://realassets.ipe.com/news/axa-group-joins-allianz-to-back-scape-australia-student-housing-fund/10033179.article
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