Allens has advised GPT Group on the expansion of its funds management platform with the addition of a significant portfolio of student accommodation assets managed on behalf of QuadReal. The portfolio comprises nine properties across Australia and New Zealand has a reported value of in excess of approximately $1 billion.
'This marks a significant expansion of GPT's funds management platform and we congratulate GPT on the successful addition of the Australian and NZ student accommodation portfolio to its platform,' said lead Partner Sean Cole.
'There has been a significant uptick in transaction activity in the student accommodation sub-sector, amidst a buoyant living sector more generally that is benefiting from demographic and structural tailwinds.'
Kate Towey, Real Estate Sector lead, said: 'This transaction builds on Allens' relationship with GPT Group and we were delighted to assist them with their continuing partnership with QuadReal, with Allens having also advised GPT on the formation GPT QuadReal Logistics Trust in 2020.'
Allens legal team
Investment Funds and Financial Services
Sean Cole (Partner), Marc Kemp (Partner), Peter Haig (Partner), Andrew Shetliffe (Counsel), Virosh Poologasundram (Senior Associate), Wayne Kwok (Associate), Vidhi Nanda (Associate), Amy Silver (Lawyer), Jasmine Yang (Lawyer), Michelle Li (Lawyer), Amy Dench (Lawyer)
Wendy Rae (Partner), Andrew Wong (Counsel)
Eugene Tan (Partner), Caitlin Blanchard (Senior Associate), Sheridan Wood (Lawyer)