In a single deft move, Australia’s biggest student accommodation owner and operator has charged into the country’s booming build-to-rent market with a new $1.5-billion fund and plans for 10,000 apartments by 2030.

Scape Australia has turned to its long-time Dutch investment partners APG Asset Management and Bouwinvest to finance the joint venture—still subject to regulatory approval— which will both build facilities and acquire existing assets.

Scape’s chief executive Anouk Darling said the yet-to-be-named joint venture would focus on developing new urban, transport-oriented rent-to-live assets.