Brookfield expands into Australian PBSA market
Brookfield expands into the Australian student accommodation sector with its first investment in Melbourne – in a joint venture with Citiplan.
Global alternative asset manager – Brookfield – has made its first investment in the student accommodation sector in Australia, striking a joint venture with integrated property business Citiplan. The joint venture has acquired a purpose-built student accommodation (PBSA) development site directly opposite the University of Melbourne.
The acquisition of the initial site signals Brookfield’s acceleration into alternative real estate assets in Australia after it acquired seniors living business Aveo in 2019 …