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£200m PBSA Partnership Launched by QIP and Solibuild

Posted by Calum Martin in

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Q Investment Partners (QIP), a private equity real estate firm based in Singapore, has partnered with property group Soilbuild to establish a student housing platform worth £200 million ($246 million) in the UK.

The joint venture intends to increase the scale of the platform to £400 million.

QIP and Soilbuild plan to share up to 45% of the ownership of the platform with other investors, with around 50% of the assets already seeded.

According to a press release, the UK purpose-built student accommodation (PBSA) platform will start with 650 new beds across two developments in York and Newcastle. These properties will be managed by the Homes for Students brand, Prestige Student Living.

Co-founder and CEO of QIP, Peter Young, commented: "This partnership demonstrates our continued commitment to the (PBSA) sector and will see QIP leverage our existing platform scale to address the growing demand for high-quality student accommodation in the UK."

According to the latest data published by UCAS, the 2022/23 academic year saw over 11% of acceptances coming from students outside of Europe, highlighting the resilience of the UK PBSA sector in the current economic climate.

QIP focuses on global residential living and has invested $1.2bn in developed markets to date. They invest in PBSA, multi-family and co-living rental buildings, BTR, and care homes in the UK, US and Japan.