Far East Orchard, a prominent real estate developer, has just announced that it has successfully secured a whopping $70 million for its first private purpose-built student accommodation (PBSA) fund. This significant milestone marks a new chapter for Far East Orchard as it ventures into the thriving student accommodation sector. The fund, known as The Student Accommodation Fund, will be focused on acquiring and developing PBSAs in the United Kingdom, specifically in cities with strong student populations such as London, Manchester, and Birmingham.
The decision to launch a private PBSA fund comes at a strategic time as the demand for high-quality student accommodation continues to rise in key student cities across the UK. Far East Orchard’s foray into this sector is a testament to its commitment to diversifying its real estate portfolio and tapping into new growth opportunities. With the successful closing of the fund, Far East Orchard is now well-positioned to capitalize on the increasing demand for purpose-built student accommodation in the UK market.
The $70 million raised for the fund was sourced from a mix of high-net-worth individuals, family offices, and institutional investors, highlighting the strong interest and confidence in Far East Orchard’s PBSA investment strategy. The fund will be managed by Far East Orchard’s subsidiary, Far East Hospitality Trust Management (FEHTM), which has a proven track record in managing hospitality assets. This expertise will be instrumental in identifying and managing high-quality PBSA investments that align with the fund’s investment objectives.
Far East Orchard’s entry into the PBSA market is expected to bring a fresh perspective and innovative approach to student accommodation development in the UK. The company’s strong financial footing and extensive experience in the real estate sector make it well-equipped to navigate the complexities of the PBSA market and deliver value to its investors. With the launch of The Student Accommodation Fund, Far East Orchard is poised to make a significant impact in the UK student accommodation sector.
In a statement announcing the successful fundraising, Far East Orchard expressed its confidence in the long-term potential of the PBSA market in the UK. The company’s strategic decision to focus on key student cities with high demand for accommodation underscores its commitment to sustainable growth and creating value for its stakeholders. By investing in purpose-built student accommodation, Far East Orchard aims to provide a safe, comfortable, and conducive living environment for students pursuing higher education in the UK.
The launch of The Student Accommodation Fund represents a major milestone for Far East Orchard as it expands its real estate footprint beyond its traditional markets. The fund’s investment strategy is expected to generate attractive returns for its investors while contributing to the development of high-quality student accommodation in key UK cities. Far East Orchard’s entry into the PBSA market is a testament to its willingness to adapt to changing market dynamics and explore new avenues for growth.
As Far East Orchard embarks on this new venture, it is poised to become a key player in the UK student accommodation sector, leveraging its strong financial position, industry expertise, and strategic partnerships to drive success. The launch of The Student Accommodation Fund is a testament to Far East Orchard’s vision for growth and its commitment to delivering value to its investors. With $70 million in funding secured, the company is well-positioned to make a meaningful impact in the PBSA market and create lasting value for its stakeholders.
