Having developed a best-in-class portfolio of 15 purpose-built student accommodation (PBSA) assets across Australia, as well as a market-leading operational platform Urbanest Australia, M3 Capital Partners approached Savills for advice on how to achieve best value via a full or partial recapitalisation or disposal of its investment.
With a significant weight of capital looking to enter the Australian student accommodation market and limited opportunities to acquire operational assets, Savills recommended full disposal of the business (including both the assets and the operational platform), advising that a targeted global marketing campaign would be the most effective route to maximising proceeds.
Savills corporate finance epitomises client service – attentive, knowledgeable, patient and adaptable. They are a strong player on any team.
W. Feldman, Principal, M3 Capital Partners
By combining a deep knowledge of the portfolio, developed through a long-standing involvement with the business in Australia, with extensive experience transacting large student accommodation platforms and portfolios in the UK and Europe, Savills corporate finance and student accommodation teams delivered a highly structured transaction process. This was supported by a considered marketing campaign, which generated deep institutional interest.
The business, which ultimately transacted to a global student accommodation operator backed by a highly credible consortium of global pension funds, was the largest ever student accommodation transaction in Australia, as well as being responsible for a major re-rating of yields in the sector.
Throughout the project I found Savills to be intelligent, considered, responsive and a great fit for our team. Savills experience clearly enhanced the project group and they played a pivotal link role between the Urbanest and Evergreen teams in delivering the project.
D. Munro, CEO, Urbanest Australia