Zenzic Capital has launched a new strategy aimed at investing in opportunities in the U.K. purpose-built student accommodation (PBSA) sector.
The strategy is seeking to build out a portfolio of more than £500 million ($636.7 million) of gross development value (GDV) through investing in existing stock and developing new assets.
A joint venture with Torsion Group, a Leeds-based residential developer, contractor and operator, has seeded the new strategy with the acquisition of five major schemes with a total GDV of more than £147 million ($187.2 million).
The joint venture with Torsion is seeking to build a portfolio GDV of more than £250 million ($318.4 million) across seven schemes that will deliver 1,566 rooms by the end of 2024.
The first five schemes with Torsion consist of 817 beds, as well as social, fitness and wellbeing spaces; study zones; and recreational areas. Of the first five schemes with Torsion, two that are fully built and fully let are
