Apache sells remaining student digs asset for €35 million
UK-focused investment manager Apache Capital has sold Cumberland Place to City Developments Limited, a Singaporebased investor and developer for over €35 million, representing an exit yield of 4.81% and exceeding the target sale price. Completed in 2018, the high quality student housing development is situated in the heart of Southampton and is Apache Capital's last purpose-built student accommodation scheme. The property, which is fully let and has achieved 100% occupancy year-on-year, comprises 206 direct-let student beds arranged over 12 storeys...