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Greystar JV to buy London student housing asset for over £160M

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Greystar JV to buy London student housing asset for over £160M

Greystar Real Estate Partners LLC, together with Public Sector Pension Investment Board, or PSP Investments, and Allianz Real Estate, agreed to buy a purpose-built student accommodation property in London for over £160 million.

Apache Capital Partners LLP will sell the 458-bedroom Paul St. East property in Shoreditch, and intends to funnel the proceeds from the transaction toward its build-to-rent pipeline with Moda Living.

The fully leased asset was originally purchased from Ireland's National Asset Management Agency and included 43,000 square feet of office spaces sold to Helical PLC in 2015.

The transaction is expected to close in April, subject to regulatory approvals.