Cambridgeshire snaps up student block
0Cambridge County Council has purchased a 251-bed purpose-built student accommodation block in Cambridge.
The council paid Apache Capital Partners £38m for the property, reflecting a net initial yield of 4.76%.
Brunswick House, was built in July 2012 and comprises 251 flats and 20 flats near to Anglia Ruskin University’s Cambridge campus.
Jamie Snary, asset management director of Apache Capital Partners, said: “This sale to Cambridge County Council is a great example of a local authority investing back into their local community with the acquisition of this high-quality purpose-built student accommodation asset with its exceptionally strong occupancy track record and defensive income profile.”
Share
