Global asset manager Nuveen has provided an AU$275 million senior loan to the Dexus Opportunity Funds and Marquette Properties.
The capital supports the acquisition of a B-Grade office building in the Brisbane CBD and its refurbishment into a modern, purpose-built student accommodation (PBSA) facility.
The asset is uniquely positioned to provide high quality student accommodation conveniently close to the Queensland University of Technology CBD campus, and with easy access to the recently announced Griffith University CBD campus.
Once complete, it will hold space for 1,200 beds spanning 27 levels and offer best-in-class amenities for residents across gyms, cinemas and other communal areas. It also benefits from access to various retail, parkland and transportation offerings nearby. Construction is due to commence late 2024 with completion expected late 2026.
You can now read the full press release at the link below
