GIC and Unite Students have bought a student housing asset in the UK for 拢227m (鈧�266m).
The Singaporean sovereign wealth fund said its joint venture with UK developer Unite Students has acquired Aston Student Village (ASV) in Birmingham.
GIC has been to global student housing markets. Last year, it from Oaktree Capital Management.
Madeleine Cosgrave, regional head of Europe, GIC Real Estate, said ASV is a 鈥渉igh quality asset uniquely located both on-campus and in the city centre鈥�.
She said: 鈥淲e are confident in the long-term growth potential of this asset and the student housing sector which we find attractive for its resilient income streams.鈥�
The asset, which includes 3,067 beds, is the first on-campus deal by Unite and GIC鈥檚 London Student Accommodation Joint Venture.
GIC signed up for a second joint venture with Unite, focused on London development projects, .
