LGIM Real Assets has agreed to fund two student blocks prelet to the University of Lincoln.
It will forward fund EBW Developments – a joint venture between Bloc and Marcus Worthington Properties – through its LPI Income Property Fund for £25.6m.
Let to the university for 21 years, the accommodation will consist of 301 en suite student rooms. Completion is planned for autumn 2019.
Tudor Toone acted for Legal & General and JLL acted for the developer.
Launched in 2010, the LPI Income Property Fund offers defined benefit pension schemes an innovative way to invest in direct property with secure, primarily government backed, inflation-linked sources of income.
It has more than £1.2bn under management.
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