LONDON-LaSalle Investment Management has closed a deal to purchase and finance the development of The Quadrant, a 328-bed student housing community in London. The company is purchasing the development for GBP 32 million on behalf of an educational client.
The Quadrant will comprise 258 en-suite cluster rooms and 70 studio units. The University of the Arts has leased all the en-suite cluster rooms for 21 years and Watkin Jones has leased the studios. Construction is slated to be completed for the academic year 2013/14. For the full story, go to Europe Real Estate .
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