Malaysia’s KWAP teams up with 90 North for drive into UK student homes
Malaysian fund Kumpulan Wang Persaraan (KWAP) has teamed up with 90 North Real Estate Partners to build a platform in the UK student housing market with the initial acquisition of a portfolio from IP Investment Management and Maven Capital Partners for £39.8m.
The portfolio of two newly developed purpose-built student accommodation assets totals 360 beds.
The Mill House in Edinburgh and 800 Bristol Road in Selly Oak, Birmingham are both fully operational and will offer a day one running yield.
It is KWAP’s first acquisition of a student housing portfolio in the UK and will it said provide a “platform for further investment in the rapidly growing sector” …