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GCP Student Living Acquires Scape Brighton.

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Vincent

MANews-(C)2009-2019

29 May 2019 - UK-based student residential assets-focussed REIT GCP Student has completed the acquisition of UK-based Scape Brighton, a large-scale development firm, the company said.

Terms of the transaction were not disclosed. GCP expects to fund the Scape Brighton acquisition through the company's development facility.

Scape Brighton is building a private student accommodation located on the primary campus of the University of Brighton and less than 10 minutes from the University of Sussex.

Once constructed it will provide approximately 550 beds and extensive communal areas with 1,500 square feet of retail space. It is currently expected that Scape Brighton will be operational for the 2020/21 academic year.

The company will benefit from licensing fees which will provide a c.5.5% per annum coupon through the construction phase.

GCP was the first student accommodation REIT in the UK, investing in modern, purpose-built, private student residential accommodation and teaching facilities.

Its investments are located primarily in and around...

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