Coral Student Portfolio plan a phased investment of up to $60M partnering with Capital Values Group (CVG) |
| May 27, 2013 | May 2013 Bond Updates |
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Luxembourg regulated fund, Coral Student Portfolio is planning a phased investment of up to $60M and will gain exposure to the international expansion of Capital Values Group (CVG). (1888PressRelease) Coral Student Portfolio is planning a phased investment of up to $60M to a $200m fund and thereby gaining exposure to the international expansion of Capital Values Group (CVG) into the strongest real estate and educational markets globally. CVG has established operations in Australia and Central London (UK) with over 2,500 operational beds and 5,000 secured and in development. Coral Student Portfolio's investment will gain exposure to CVG and the international expansion into new markets, such as Dubai and Dublin, where assets are identified. The student accommodation brands in those markets are Urbanest and Uninest. John Kennedy, CEO of Coral Portfolio commented: "We are delighted to be partnering with CVG on this global initiative. As the successful UK accommodation model is exported overseas, we are aligning Coral investors with the industry's most established and experienced operator." Nick Porter, CVG's Chairman, commented: "We are delighted to partner with Coral, who have a proven track record in investing in the student accommodation sector in the UK, and look forward to continuing our international growth into an ever expanding global higher education market." Note: CVG was formed in 2008 by Nicholas Porter, the founder, former CEO and Deputy Chairman of The UNITE Group plc (UNITE). UNITE started in 1991 and established the asset class for student accommodation in the UK, setting the industry benchmark. Coral Portfolio was formed in 2008 by a group of industry professionals, including John Kennedy and Lawrence Frampton, with extensive experience in the fields of student accommodation and real estate investment gained from senior positions in the UK and overseas. Coral Student Portfolio, in advance of this latest investment, has exposure to more than 30,500 student beds across the UK. For more information, please contact: Tony Trescothick Director or Marketing and Communications Coral Portfolio ttrescothick@coralportfolio.com Tel: +352 2848 0060 |
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