Herbert Smith Freehills has advised Allianz Real Estate, the global real estate investment and asset manager of Allianz group, on the creation of a market leading student accommodation real estate joint venture in London with Greystar Real Estate Partners, the global rental housing leader, and Public Sector Pension Investment Board (PSPIB), one of Canada's largest pension investment managers. This is Allianz`s first direct equity investment into the real estate sector in the UK.
The deal sees German investor Allianz Real Estate acquire a 40 per cent stake in UK student accommodation platform Chapter from Greystar and PSP.
It is expected that the joint venture will propel an expansion programme to keep up with housing demand, doubling the size of Chapter’s portfolio to 10,000 student beds within five years as London continues to be a prime destination for the construction of student housing.
The team was led by real estate partners Don Rowlands and Alice Dockar.
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