SINGAPORE (Dec 23): Singapore Press Holdings (SPH) is adding seven purpose-built student accommodation assets (PBSAs) to its portfolio for a price tag of £448 million ($806.4 million), the group reported on Monday.
The acquisition comprise five stabilised assets in York, Cambridge, Bath, Edinburgh and Durham, and two development assets in Brighton and Oxford.
The deal involves an initial cash consideration of approximately £411 million for the portfolio, and estimated construction costs of £37 million to complete the development assets in Brighton and Oxford, which are slated to be operational for the academic year 2020/21.
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