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Aussie student housing fund gets $645m from Canada pension

International students pouring back into Australia after border reopening

Rental residential operator Scape manages Australia’s largest student accommodation fund. (Photo from Scape Facebook page)

BANGKOK -- Ivanhoe Cambridge, the property arm of Canada's second-biggest pension fund, has invested 1 billion Australian dollars ($645 million) into Australia's largest student accommodation fund, which is managed by rental residential operator Scape.

Dubbed the Scape Core Program, the fund currently manages a portfolio of 27 rental residential buildings and 13,000 rooms for college students, predominantly in Sydney and Melbourne, according to a joint announcement.

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