Mapletree buys student housing assets for £417m

Singapore

MAPLETREE Investments has jumped on the bandwagon to acquire student accommodation assets in the UK amid increased interest from companies and sovereign wealth funds to chase strong yields in student digs.

In its first foray into this asset class, the Temasek Holdings unit on March 7 scooped up a portfolio of 25 buildings with more than 5,500 beds in 12 core university cities including London, Edinburgh and Manchester for £417 million (S$819.2 million), trumping rival bidders from the US, Russia and the Middle East.