So ...
'Have you got a problem with students, boss?' No. Of course not. It's just an expression, isn't it?
"Bloody students!"
Anyway, PR email ...
LONDON, UK - 10 MARCH 2021 - Sunway RE Capital and MBU Capital have forged a transcontinental partnership to invest and manage Purpose Built Student Accommodation (PBSA) assets in the United Kingdom (UK), underpinned by signs of recovery in the sector. The collaboration has been pre-seeded through a combination of assets and readily deployable equity, totalling £110m.
Okay, okay. Let's hear more!
The fund is supported by positive demand for undergraduate places and an acute undersupply of student accommodation exacerbated by construction delays, according to the latest PBSA sector update from property advisors CBRE. Meanwhile, the Universities and Colleges Admissions Services (UCAS) data revealed a 2% year-on-year increase in overall applicant numbers in June 2020 as well as a significant increase in applications from international students.
MBU Capital's property team, which has presided over more than 5,000 PBSA units, will seek institutional stock predominantly within Russell Group universities. Seeded assets already include units in Bristol, Manchester and Sheffield.
Fine. And what does Mohammed say?
"Pre-The Thing, student occupancy rates were typically above 97%. Not only do we anticipate a bounce back in the near future, but the number of full-time students in the UK has reached a record level, and is only set to grow. This fund provides investors with the opportunity to capitalize on the compelling UK student market with an established and trusted partner," says Mohammed Iqbal, CEO of MBU Capital.
And Tan?
"We believe the UK is most likely to remain one of the world's most popular student hotspots and demand from overseas for high-quality education is expected to rise once travel restrictions have been lifted. We're optimistic about this sector and we've created a fund management team which has a track record of sourcing and delivering world class institutional stock," says Dr Tan Kok Heng, Executive Director at Sunway RE Capital, part of the Sunway Group.
People still want to come here?! I mean ... well ... whatever! 'It takes all sorts to make a world, boss.' Christ. I suppose. 'When are you clearing off to Malibu?' I don't know, Voice. Apparently, lots of people are leaving California and moving to other states in America. Some say that California has become a shitshow. 'Oh dear.' High taxes, social problems, etc, etc. 'Maybe you should get that castle in Spain instead.' Yeah, yeah.
I haven't recorded my new demo yet. Ha!
Anyway ...
That's more or less it.
ENDS
...
Anything else?
There's a new book out about our Elon and SpaceX ... Liftoff by Eric Berger. I've bought the audiobook. It's got great reviews, but I don't know if it will replace the Ashlee Vance one. In my affections, like. Liftoff was only published last week, so it should have loads of new information.
