Scape Announces U.S. Headquarters to be Based in Boston
Scape USA is targeting 20,000 beds nationwide and is prepared to invest $1 billion in Boston over the next five years.
BOSTON—Scape, a London-based global real estate owner, operator and developer that specializes in the private, academic accommodations sector, is launching its US headquarters in Boston.
Over the past decade, Scape has emerged as a best-in-class, vertically-integrated international operator and a globally-recognized brand.
Scape has deployed more than $3 billion of capital and its portfolio currently consists of more than 12,500 beds—in operation or in development—n the United Kingdom, Ireland and Australia. Scape USA is targeting 20,000 beds nationwide and is prepared to invest $1 billion in Boston over the next five years.
“We are thrilled to be in Boston, amongst the world’s best academic and research institutions and brightest students,” said Nigel Taee, founder and global executive chairman of Scape. “There is a tremendous need for student housing in Boston as identified in the city’s Imagine Boston 2030 plan and Scape intends to move the needle toward achieving the city’s stated objectives in the plan.”
Scape USA’s entry into Boston comes at a time when the city has identified the need for 69,000 units of housing, 16,000 new undergraduate beds and 3,000 graduate beds by 2030. Scape is solving a student housing problem in Boston where an immense off-campus student population is exerting enormous pressure on the supply-constrained housing market displacing workers and families and driving up rental costs, the company states in its announcement.
Scape USA will be headquartered in Boston’s Fort Point District and led by CEO Andrew Flynn.
Scape states that it selected Boston to launch its US headquarters because it is a hub of higher education and academic research and is a city that needs student housing.