Cordea Savills, the European property fund management firm, acquired Penworks Studios in Birmingham, England for EUR 20 mln. The asset is a five-storey residential building with 150 flats for students. It has been added to Cordea Savills' U.K.-based Student Hall Fund, which now has five properties encompassing 2,215 total flats with a value of EUR 148 mln.
Portuguese real estate investor and developer Bondstone is investing around €70 mln in a residential development in Belas Clube de Campo, municipality of Sintra, Portugal.
