Excessive bank debt forced the sale of Aston Student Village (ASV), which was bought in a pre-pack deal by a Singaporean sovereign wealth fund.
Last week GIC and its joint venture partner Unite announced it has bought the portfolio for £227m.
The portfolio is made up of five student accommodation buildings at Aston University, totalling 3,067 beds. ASV will generate gross annual income of around £17m for the 2017/18 academic year.
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