After a successful start in Australia, APG has further expanded its investment in Scape student accommodation on behalf of its pension fund clients. To this end, Scape and APG have set up a £ 500 million (€ 580 million) joint venture for the United Kingdom.
Scape develops and manages student accommodation with a high standard in city centers. The residents have access to high-quality facilities such as fitness rooms, study rooms, stylish furniture, wireless music systems, weekly cleaning, food delivery, et cetera. With these accommodations, Scape is responding to favorable long-term demand due to increasing international student mobility and growing domestic demand.
For APG and ABP, this step in the British market offers very attractive investment opportunities with a stable return in the long term.