Torsion Developments and Coventry-based developer DR2H have sold a Warwick student scheme to a new fund of Singaporean investors.
Paideia Capital UK Trust is a strategic partnership between Singapore’s Metro Holdings, Lee Kim Tah Holdings, and Woh Hup Holdings.
The partners have completed their first deal with the 210-bed Red Queen scheme for £20.75m.
The building opened in summer 2020, ahead of the September academic year start date, and is currently 90% let.
Paideia Capital UK Trust launched in December with an initial commitment of £60m and plans to grow a £150m portfolio.
Sean Gillies, who advised Paideia Trust in the UK, said: “We are actively seeking other opportunities in the UK as we look to rapidly expand the portfolio over the next two to three years.”
Knight Frank advised the vendors.
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