Insights > Deals
The Living Company forms Melbourne student‑housing venture with A$1 billion development value
25 September 2026 | JV | Australia | 1,400+ beds | Development
Institutional partners will fund State Library Exchange, combining student accommodation with a long‑term RMIT commercial lease.
Key details
Asset type | Development |
Location | Melbourne, Australia |
Capacity | 1,400+ beds |
Party 1 | Scape Core Fund |
Party 2 | Bouwinvest |
Party 3 | Malaysian pension fund |
Party 4 | The Living Company |
Lender 1 | DBS |
Lender 2 | Crédit Agricole |
Lender 3 | O‑Bank |
Value | c. A$1 billion |
Source: Australian Property Markets News
RMIT has agreed a 15‑year lease for approximately 12,000 sq m of commercial space of the building.
The development is at the corner of Swanston and La Trobe streets. DBS, Crédit Agricole and O‑Bank are providing senior debt, while Built is the construction contractor. Completion is scheduled for June 2029.
Strategic context
The venture expands The Living Company's Melbourne portfolio, where it already has more than 8,000 student beds.
Scape Core Fund's 50% stake retains exposure to the project while sharing development funding with institutional partners.
SUBSCRIBE TO STUDENT HOUSING INSIDER
Stay close to the student housing market
Subscribe to Student Housing Insider for a weekly update on student housing transactions, development pipeline, market trends and selected BONARD analysis.
Designed for investors, developers, operators, lenders and market participants tracking the student housing sector.