SINGAPORE (EDGEPROP) - Centurion Accommodation REIT (CAREIT) has completed the acquisition of EPIISOD Macquarie Park, a newly developed 732-bed purpose-built student accommodation (PBSA) asset in Sydney, Australia. The acquisition, valued at A$345 million (S$280.1 million), was fully funded through committed debt facilities.

The deal represents CAREIT’s first PBSA asset investment in Sydney and follows its initial public offering in September 2025. It also marks the Reit's entry into a second Australian city after Adelaide, where it owns another PBSA asset.

The property will operate under EPIISOD, a new premium student accommodation brand by Centurion Corp, CAREIT's sponsor. CAREIT has entered into a master lease agreement with Centurion Properties and Centurion Corp for the property, with the lease ending on Dec 31, 2027.

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The strategic location of EPIISOD Macquarie Park, near Macquarie University and key transport links, positions it to benefit from strong demand for student accommodation in Australia. CEO Tony Bin highlighted the milestone, stating, “Operated under the EPIISOD brand, the property will be managed to provide a safe and secure living environment while fostering a sense of community that supports academic success, personal growth, wellbeing, and meaningful connections.”

Following the acquisition, CAREIT's portfolio now comprises 15 assets, including five purpose-built worker accommodation (PBWA) assets, across Singapore, the UK, and Australia, with a total valuation of $2.1 billion.