Student housing provider Urbanest said it would sell its Australian student accommodation platform, with advisory firm M3 Capital Partners facilitating any deal.
Urbanest Australia, one of the largest student housing providers in Australia, has about 15 assets and about 7,500 beds predominately in Sydney and Melbourne.
It expects to report net operating income (NOI) of about $100 million in 2020, it said. By 2024, it expects NOI to be $125 million, supported by the launch of its 15th asset in Melbourne two years from now, Urbanest said in a statement.
Urbanest specializes in developing and operating purpose-built student accommodation that provides so much more than a place to stay. A people-first culture shapes its vibrant, welcoming and enriching student communities, specifically designed for today’s student preferences. This culture creates opportunities for our employees to build their skills, explore their potential and, in turn, ensure Urbanest delivers against high expectations.
Read more here