Moorfield Group’s fifth value-add UK real estate fund is funding a £42 million (€38.6 million) student accommodation scheme in Lincoln.
The UK real estate fund manager’s Moorfield Real Estate Fund (MREF) V has entered into a development agreement with Melberry Developments for a 293-bed purpose-built student accommodation (PBSA) scheme in the East Midlands.
The deal marks Moorfield’s second development agreement with Melberry. In April last year, Moorfield via its MREF IV fund entered into a development agreement with Melberry for a 282- room University of Essex PBSA development in Colchester. The development known as Enso was completed in July.
It is also the second scheme to be delivered by the Zennor partnership, where Moorfield and Funding House provide de-risked funding opportunities in the living sectors. An agreement for the Apiary, an 81-home co-living scheme in Ealing, West London, was completed in February 2022.
Source: realassets.ipe.com on the 15th of November