DLA Piper is advising Allianz Real Estate on the investment into a portfolio of student accommodation facilities in Australia through the new Scape Australia Joint Venture 2 Fund. The fund will invest up to AU$500 million, focusing on student accommodation facilities in Sydney and Melbourne, it may also invest in the Brisbane, Perth, Canberra and Adelaide markets.

Allianz Real Estate is acting on behalf of several Allianz companies who will invest a combined 50% stake in the new Scape Australia Joint Venture 2 Fund.

The DLA Piper team includes DLA Piper Real Estate partners Les Koltai, Arthur Chong and Astrid Beemster with assistance from Susheela Rivers in Hong Kong and the Corporate team including partner Gerry Bean, special counsel Kurt Tiam, foreign legal associate Bradley Heath and Tax partner Eddie Ahn.