Corvette Capital and Crown Student Living have teamed up to develop £400m (€472.7m) worth of student housing assets in the UK.
The venture is developing a 426-bed asset at a Nottingham site, secured initial planning permission for a site in Birmingham and has a pipeline of projects earmarked for other sites in Bournemouth and Leicester.
Brotherton Real Estate helped structure the joint venture and will continue to support the partnership in its debt raising for its projects.
The joint venture is the first foray into student accommodation for Corvette, which was formed in 2019.
Simon Gordon, the co-founder of Corvette Capital, said: “The purpose-built student accommodation market continues to grow as those studying at British universities increasingly choose safe, well-equipped and socially supportive places to live and study.
“Working with such great partners as Crown and finding excellent sites in leading university cities, gives us great confidence as we expand into this exciting sector.”
Crown, which was formed in 2008, has a strong track record of developing student accommodation projects in the UK.
Alan Pulver a director at Crown Student Living, said: “Partnering with such a forward-looking business as Corvette Capital will enable us to grow our portfolio of high-quality purpose-built student accommodation, serving a market that we have seen grow and expect to expand further.”
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