Singaporean firms Q Investment Partners (QIP) and Soilbuild are looking for equity partners to join their newly created 拢200m (鈧�227m) develop-to-core UK student housing venture.
The pair have already seeded the UK Purpose-Built Student Accommodation (PBSA) Build-to-Core Platform with around 50% of its intended assets and are seeking investors to take a 45% stake in the venture which could be doubled in size to 拢400m.
The newly launched platform鈥檚 seed assets of 650 beds comprise two development opportunities located in York and Newcastle.
Peter Young, CEO and co-founder of QIP, said the PBSA sector continues to be increasingly attractive to institutional investors.
Young said: 鈥淭his partnership demonstrates our continued commitment to the sector and will see QIP leverage our existing platform scale to address the growing demand for high-quality student accommodation in the UK.
鈥淭he result is an attractive proposition for QIP, Soilbuild and strategic LPs [limited partners]: a highly resilient and well-managed income base that translates into competitive risk-adjusted returns, stability and growth.鈥�
Singapore-headquartered QIP is a private equity real estate firm that specialises in the global residential living sector. The company invests in the UK, US and Japan, by investing in PBSA, multi-family and co-living rental buildings, build-to-rent and care homes.
Fellow property group Soilbuild develops a range of residential properties from high-end luxury condominiums to landed and conservation houses.
Lim Han Feng, director at Soilbuild, said the partnership is a continuation of Soilbuild鈥檚 strategy of developing purpose-built schemes across the residential and business space.
鈥淨IP and Soilbuild have significant expertise in providing a full spectrum of real estate solutions, and through this strategic partnership with QIP, we are leading the way to build a scalable portfolio of UK PBSA assets to address the structural undersupply of quality student accommodation in the market,鈥� he added.
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