MinterEllison has advised a large syndicate of domestic and international lenders and 10 bilateral lenders on the landmark $2.4bn refinancing and upsize of the Scape Core Fund debt platform.

Scape is Australia’s largest owner and operator of student housing. Its core investors include APG Asset Management and Bouwinvest, Pimco Prime Real Estate, AXA and Canada’s Ivanhoe Cambridge.

Each of the facility agreements were integrated into a common terms funding platform and linked to a sustainability terms deed poll. Together, the facility agreements represent the largest sustainable loan to have been secured within Australia's living sector. The sustainability finance co-ordinators were also advised by the MinterEllison team.

The MinterEllison team was led by Partner Daniel Marks who was supported by William Xu and Romni Ritherdon.

Daniel Marks, Partner, MinterEllison, said: "This transaction demonstrates MinterEllison's market-leading expertise and innovative approach in structuring complex financings. We are proud to have helped the lenders and Scape achieve an excellent outcome".

MinterEllison's involvement in the landmark $2.4 billion refinancing of the Scape Core Fund debt platform not only reflects the firm's expertise in structuring complex financings, but also underscores a growing commitment within the finance sector towards funding student accommodation and sustainability.