Far East Orchard launches inaugural £70m PBSA fund
Far East Orchard has launched its first private fund in Singapore, the FE UK Student Accommodation Development Fund (FESAD). The mainboard-listed company also announced the first close of £70m, along with the fund’s target aggregate commitment of £100m.
The FESAD will invest in purpose-built student accommodation (PBSA) development opportunities within the UK.
The fund is currently seeded with a development in Glasgow, which was acquired in March, where a 273-bedroom PBSA project will be constructed. The scheme will be delivered in partnership with Glasgow based developer Ambassador Group …