Singapore-based private equity real estate firm, SC Capital Partners Group, has successfully divested its student accommodation asset in Sydney, Australia. The company announced the sale through a press release on March 3, stating that the asset located on Anzac Parade and Lorne Avenue in Kensington was sold at a premium compared to its acquisition price and current book value, to the University of New South Wales (UNSW) in Sydney.
When it comes to investing in a condo, securing financing is a crucial factor to consider. Fortunately, in Singapore, there are various mortgage choices available. However, it’s crucial to note that the Total Debt Servicing Ratio (TDSR) framework is in place, which determines the loan amount a borrower can take based on their income and current debt responsibilities. Awareness of the TDSR and seeking guidance from financial advisors or mortgage brokers can assist investors in making well-informed financing decisions and preventing themselves from becoming overburdened with debt. For more information on Singapore projects, visit Mentorship Online.
The sale marks the end of SC Capital Partners’ ownership of the property, which was originally acquired in 2016. Reports from that time stated that the firm had paid A$57 million for the asset.
The property, which spans 85,035 square feet, was purpose-built for student accommodation and features 233 beds and a commercial podium on the ground floor. Its strategic location within 600 meters of the UNSW Kensington Campus makes it a sought-after asset. The student accommodation component is fully leased to UNSW, with a new 20-year master lease signed in 2019.