Long Harbour is looking to raise £750m for its purpose-built student accommodation investment platform.
The venture was launched last year with Rosethorn Capital Partners and is led by Rosethorn chief executive Stephen Rigby, who was a founder and chief investment officer at Student Roost.
Cadillac Fairview-backed Long Harbour is speaking with long-term institutional capital and pension funds to raise between £500m and £750m, which it will use on existing assets and for the acquisition of new development projects in the UK’s major university towns and cities.
It expects to build a portfolio of up to 10,000 beds over the seven years. Long Harbour’s residential management platform, Way of Life, will manage the properties.
Long Harbour is also raising £500m for its £1.5bn GDV single-family housing platform, led by Jack Spearman. Launched in April last year, it plans to provide 5,000 rental single-family homes in the next five years.
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