The latest in funds and investments across Asia-Pacific.

Allianz
Global financial services firm Allianz has partnered with Scape Australia to establish Scape Australia JV 2, an Australian dollar-denominated, closed-ended fund targeting the purpose-built student accommodation market in Australia.   

The deal was conducted by Allianz Real Estate - the real estate investment and asset manager of the Allianz Group, on behalf of several Allianz companies.

Allianz will own 50 per cent of the Fund, and the remainder will be held by long-term institutional investors. The fund is targeting to raise $AU 500 million ($383 million) in equity.

The fund’s strategy is to leverage structural demand for PBSA across six cities to build a long-term, cash flow producing portfolio by investing in a range of develop-to-core, and stabilized or stabilizing assets. The six target cities are Sydney, Melbourne, Brisbane, Perth, Canberra, and Adelaide.