Singapore-based Q Investment Partners (QIP) and integrated property group Soilbuild have formed a £200 million ($246 million) platform to invest in purpose-built student accommodation (PBSA) assets in the United Kingdom.
The build-to-core platform could potentially be scaled up to £400 million ($492 million), according to reports. The fund initially will be seeded with two PBSA developments in York and Newcastle, with a total of 650 beds.
“As integrated real estate businesses, QIP and Soilbuild share many of the same values, and this partnership reaffirms QIP’s significant track record and expertise in the global residential living sector,” said Peter Young, CEO and co-founder of QIP.