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Allianz to provide £128M for accommodation project at UK university

Allianz Global Investors and the University Partnerships Programme, or UPP, are putting in £155 million for the construction of 1,750 student rooms on-campus at the University of Hull in the U.K, IPE Real Estate reported.

A total of £127.6 million of financing via 40-year, index-linked bonds will be provided by Allianz Global Investors, while UPP and the university are adding in £27.4 million of subordinated debt and equity, the May 26 report noted.

Both companies have now invested roughly £300 million together in U.K. university accommodation, according to the report.