Stephen Gaitanos, co-founder of Scape Australia, is quietly reflecting the success of the booming student accommodation sector through his latest high-profile property move, according to smh.com.au
The former Morgan Stanley investment banker, alongside his wife Emma, has purchased a $50 million mansion in Bellevue Hill, marking a significant upgrade from their Hunters Hill home bought for $4.2 million in 2018. The acquisition underscores the financial strength behind Gaitanos’ growing property empire.
Since co-founding Scape Australia in 2013 with Craig Carracher, Gaitanos has helped build one of the country’s leading student housing providers, with 38 developments across major cities. The business has since evolved into The Living Company, expanding into build-to-rent housing, affordable living and retirement communities.
A major milestone came last year when the group acquired retirement village operator Aveo for $3.85 billion, further cementing its position in Australia’s residential sector.
The Bellevue Hill purchase, confirmed through recently lodged transfer documents, highlights how Gaitanos has translated business success into personal investment. The property was acquired from Plenary Group co-founder Paul Oppenheim and his wife Cathie-Jane, who had previously renovated the home after buying it in 2017.
While agents declined to comment, the deal places Gaitanos among Sydney’s high-end property buyers, in a suburb where record-breaking sales continue to push boundaries.
His latest move not only signals personal wealth but also reflects the rising profitability of student accommodation and diversified living sectors he helped shape.
Source: smh.com.au
