Huge Student Accommodation Development Planned for Cardiff
23rd Aug 2017
After some huge investments in the student accommodation market over the last few years, Goldman Sachs and the Wellcome Trust have brought together their assets under a new £2 billion joint venture.
Vero Group will become the closest competitor to the UK's leading provider of purpose built student accommodation, Unite Group. Its formation follows a massive £6 billion investor pile in to the UK student accommodation sector last year.
In the new venture Goldman (who will own 68.4% of Vero) and the Wellcome Trust (with 28% ownership) will also be joined by US real estate investor Greystar (3.6%). It brings together Goldman's Prodigy Living brand and Wellcome's iQ range of accommodation - meaning the new venture holds a combined 23,500 student beds.
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