The fund is currently seeded with a development site in Glasgow, Scotland, which was acquired in March, where a 273-bed student accommodation project will be constructed. The fund will target “high-potential” PBSA development projects in the UK, says Far East Orchard (SGX:O10
) O10.
Far East Orchard has launched its first private fund in Singapore, the FE UK Student Accommodation Development Fund (FESAD). The Mainboard-listed company also announced the first close of GBP70 million ($120.13 million), along with the fund’s target aggregate commitment of GBP100 million.
According to an Aug 22 announcement, FESAD will invest in Purpose-Built Student Accommodation (PBSA) development opportunities within the UK.
