Goldman Sachs/Greystar/Wellcome Trust £2 billion student accomodation joint venture

Overview:

• Goldman Sachs, Greystar Real Estate Partners and the Wellcome Trust have entered into a £2 billion joint venture in relation to a new student accommodation company.
• The new company (Vero Group) will own 23,500 beds across 54 sites in the UK.
• It will combine iQ a company owned by the Wellcome Trust and Prodigy Living owned by Goldman and Greystar.
• Goldman will own 70% with the Wellcome Trust owning 30%.

Sam Duke - Editor