Samty Holdings, one of Japan’s leading accommodation developers and fund managers, has purchased a majority interest in UniLodge, Australia’s largest student accommodation operator, from the Swiss private equity investor, Pamoja Capital.
The price of the transaction was not disclosed, but local media reported that UniLodge is valued at A$1bn (€564m). It has operated purpose-built student accommodation in Australia and New Zealand since 1996. Today, it manages 45,000 PBSA beds .
Samty has also taken over a UniLodge subsidiary, Essence Communities, which is a build-to-rent (BTR) operator in Australia.
Samty is owned and supported by Hillhouse Investment through its real estate investment arm Rava Partners, and Daiwa Securities Group.
Yasuhiro Ogawa, president and CEO of Samty Holdings, said the acquisition supported the company’s long-term ambition to expand its role as a leading provider of accommodation services in the Asia-Pacific region.
“We are committed to maintaining UniLodge’s high standard of accommodation for the thousands of students and families who rely on their well-managed and maintained properties,” he said.
Daiwa Securities Group president & CEO, Akihiko Ogino, said: “This is a sound strategic step for Samty as the company draws on its regional expertise and partnerships to expand its global business platform. We look forward to supporting Samty’s sustainable growth and international business endeavours through our collaboration with Hillhouse.”
Joe Gagnon, partner at Hillhouse and co-head of Rava Partners, said the investment was an “outstanding addition” to Samty’s investment portfolio.
“Australia is one of the most dynamic living-sector markets in the Asia-Pacific region, and with UniLodge, Samty is acquiring the industry leader,” he added.
Tomas Johnsson, CEO of UniLodge, said: “Samty is a great future custodian to work with us in our business. We have an aligned vision to deliver on the strong future growth forecasts of our sector.”
Following the sale, the majority shareholder, Pamoja Capital said it intends to further deepen its support for the philanthropic endeavours of the McCall MacBain Foundation which has contributed more than A$500m to support scholarships and other educational opportunities, environmental initiatives, and healthcare programmes. John McCall MacBain, who heads Pamoja Capital, is the founder and chair of the philanthropic organisation.
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