The value of this acquisition was not disclosed by Mapletree in its release. According to the Australian Financial Review, this development is worth around A$300 million when completed.
Mapletree Investments has acquired a 1,398-sqm site along Wellington Street, Perth, to be developed into a 835-bed student housing asset, as part of its broader move to focus on this asset class as a core sector.
The acquisition marks Mapletree’s first entry into Australia’s student housing sector.
