Invesco Real Estate (IRE), the global real estate investment business of Invesco Ltd., has launched a purpose-built student accommodation (PBSA) operating platform in Seoul, South Korea, with PCP Standard.
The platform has launched with an initial portfolio of five PBSA assets adjacent to Korea University, one of the nation’s largest and most prestigious institutions of higher education. The assets were recently acquired by IRE and comprise three forward-purchase transactions and two development sites that will deliver more than 400 beds across a gross floor area of approximately 80,000 square feet. The platform plans to expand near other major universities in Seoul.
Accommodation offerings will primarily target domestic Korean students with affordable purpose-built living options, differentiated from the existing limited supply of higher-priced accommodations.
“Seoul has over half a million students, one of the world’s largest populations, yet on-campus h
