Temasek-backed Mapletree buys student housing assets in UK

Young entrepreneurs look at their computers at a resting area inside the University Students Venture Park, in Shanghai, China, July 29, 2015. REUTERS/Aly Song

Mapletree Investments Pte Ltd, the real estate business of state investor Temasek Holdings, said on Tuesday it had bought a portfolio of 25 student accommodation assets, comprising 5,500 beds, in the United Kingdom.

The acquisition marks Mapletree’s first investment in student housing.

The company did not disclose the purchase price, but a person familiar with the matter said Mapletree paid 417 million pounds ($594 million).

The source declined to be identified because the person was not authorised to talk to the media.

The Financial Times earlier reported the deal.

Mapletree said in a statement that the properties are located within 12 core university cities in the United Kingdom, including Manchester, Edinburgh, Birmingham and Liverpool. Five assets are in London.

Mapletree’s assets under management are in excess of S$30 billion ($22 billion) and includes office, logistics, industrial, residential, corporate lodging and retail space.

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Reuters

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.