Pension Insurance Corporation is making its debut in the student housing market with a £50.5m financing deal for a 801-bed scheme in Kent.
In partnership with University Partnerships Programme it has agreed to finance the David Morley Architects-designed Turing College for the University of Kent.
The 53-year deal comprises £40.5m of funding through a private placement from PIC, and £10m procured by UPP and its investors. The scheme is being delivered in two phases. It will be ready for the 2015 academic year.
joanna.bourke@estatesgazette.com
