Legal & General funds two student blocks in the UK

Legal & General has announced it will fund the development of two high-quality student accommodation blocks next to the University of Lincoln, England. 

The acquisition was made on behalf of Legal & General’s LPI (Limited Price Inflation) Income Property Fund for a total price of £25.6 mln (€29.1 mln).

Derek Gilby, senior fund manager of the LPI Income Property Fund, commented: ‘The quality of accommodation and its central location to campus can represent a large factor for students when deciding where they want to go to University. This is an excellent buy for the fund, offering a secure long-term income stream from an investment grade University as well as satisfying our objective of continuing to secure public sector tenants for the Fund.’

Launched in 2010, the LPI Income Property Fund has over £1.2 bn of assets under management.


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