Student accommodation developer Scape has tipped its housing assets into a $6 billion open-ended fund – which it says is the first of its type in Australia – giving a wider pool of investors exposure to a sector that it says will grow strongly over the next decade.

Privately owned Scape last week received $700 million in funding from South Korea’s National Pension System and has put about $250 million of that capital into the purchase of $1.9 billion worth of six Scape-developed assets and two development sites to boost the fund.