Greystar jv picks up £160m Shoreditch student block

Greystar, PSP Investments and Allianz are to acquire a prime London student housing asset from Apache Capital for more than £160m. The jv partners have exchanged contracts for the 458-bedroom Paul St East, EC2, from Apache’s Social Infrastructure Investment Platform. The deal is expected to close in April 2019. Acquisition of the purpose-built student accommodation block in Shoreditch is one of the biggest single-lot transactions in the UK student accommodation sector. The asset will be managed by Greystar’s Chapter portfolio. Troy Tomasik, Greystar managing director of investments in the UK and Ireland, said: “We strongly believe that Paul St East