Apache Capital Partners and Investra Development have bought a £24.9m student accommodation scheme in Southampton city centre.
The 198-bed scheme at 14 Cumberland Place will be a mix of studios and two- and three-bed flats and is expected to be finished for start of the 2018 academic year.
This is the second time the two companies have partnered on a student accommodation deal.
Richard Jackson, co-founder and managing director of Apache Capital Partners, said: “The acquisition is in line with Apache Capital’s long-term investment strategies which deliver sustainable returns to investors and landmark assets offering very high-quality amenities, facilities and services for our customers who live there.
“We continue to grow our pipeline of potential student accommodation investments in prime university cities in the UK.”
Following completion, Apache Capital will have developed and invested in a combined total of 1,774 student beds in Cambridge, Ipswich, London and Southampton.
From 2015: Apache and Investra bag Kingston digs
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