Barclays Sells $1.4B Student Housing Stake To Dutch Co.

Law360, New York (September 13, 2012, 1:27 PM EDT) -- A Barclays PLC unit has unloaded a 60 percent stake in University Partnerships Programme, the U.K.'s largest student housing firm, to Dutch pension fund administrator PGGM in a deal priced at about £840 million ($1.4 billion), PGGM said Thursday.

PGGM did not disclose the deal's exact purchase price, but said UPP's overall value lands at roughly £1.4 billion. The property manager privately funds, develops and oversees on-campus accommodations through partnerships with nearly a dozen schools across Britain.

After more than a decade of building up arrangements...
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