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Deutsche Bank funding buyout of The Collective co-living building in London

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Deutsche Bank funding buyout of The Collective co-living building in London

The management of the 546-bed The Collective Old Oak residential building in west London struck a deal to acquire the 75% of the project it did not already own in a transaction valuing it at approximately £125 million, London's Financial Times reported.

The management is being supported by funding from Deutsche Bank AG and Catalina Re, allowing Singaporean and U.K.-based private wealth investors to exit their investment in the building, which they developed. The Collective Old Oak is the world's largest purpose-built co-living building, according to the publication.

The Collective co-founder Reza Merchant said the company has amassed US$670 million to fuel its international expansion plans and is now focused on pursuing new opportunities in the U.K., U.S. and Germany.