Gilbert + Tobin is pleased to announce its role advising the Mandated Lead Arrangers, Underwriters and Bookrunners, Morgan Stanley and Citibank (MLAUBs), on the A$318 million financing of Blackstone’s acquisition of the Student One housing platform (Student One).

Student One comprises of three premium student accommodation assets in Wharf Street, Adelaide Street and Elizabeth Street in Brisbane’s central business district. As well as an integrated management company, providing accommodation for approximately 2300 people. The student accommodation provides full-service amenities including concierge services, study areas, barbeques and dining, fitness and pool facilities and practical laundry facilities.

The G+T team was led by Banking Partner, Stuart Cormack, with support from Jarrod Gook, Jaron Lam and Brandon Zheng. Partners Julian Cheng and Hanh Chau advised on the tax aspects with support from Patrice Elias and Laura Scro.

Stuart commented “We are pleased to have been able to work collaboratively with the MLAUBs’ and Blackstone to tailor and implement a bespoke acquisition financing package. This acquisition evidences the strong foreign and local demand for investment in Australia’s living sector.’”

This follows the G+T team’s work on numerous significant financings in 2023 including:

  • The Star Entertainment Group’s A$450 million refinancing (advising Star Entertainment Group)
  • CDC Data Centre’s A$1.4 billion facility upsizing.
  • Ixom’s A$1.04 billion refinancing of its corporate debt facilities (advising the MLAUBs)
  • AirTrunk’s A$4.6 billion Sustainability Linked Loan (advising the MLAUBs)
  • Aveo Retirement’s $1.5 billion refinancing of its corporate debt facilities.
  • A$650m (equivalent) Sustainability Linked Loan for AirTrunk’s TOK1 data centre
Expertise Area
Media Contact