Bovis Lend Lease and HSBC Infrastructure Fund Management have achieved financial close with the University of Sheffield in England, on a $375 million project to build and manage a new student village over a 40 year term.
Bovis Lend Lease has committed $20 million of equity and loan stock to the project company.
The project will involve the construction of 38 new residential apartment buildings and a refurbishment programme of existing dwellings to be carried out by Bovis Lend Lease over the next three years.
On completion the project will provide accommodation for up to 4,200 students.
By Adam Parsons
