Tadhamon Capital B.S.C. (c) and Apache Capital Partners, the Bahrain and London based Islamic real estate investment companies announced the successful acquisition of a prime Central London student accommodation development, in a Joint Venture with McLaren Property.
The development, known as Paris Gardens, is due for completion in September 2013. The property lies within the London Borough of Southwark and is within minutes of walking distance from some of London’s major universities including King’s College London, London South Bank University, City University, University of Westminster and London Business School. The property will consist of a 9-storey and 13-story development to provide student accommodation of 253 beds, a common room and communal courtyard, and an art school.
Waleed Abdulla Rashdan, chief executive officer of Tadhamon Capital said: “Paris Gardens represents our third transaction into the UK under our Social Infrastructure platform which was initiated with our first acquisition in Q4 of 2010 of a special needs school, and subsequently our acquisition of a student development property in 2011.”