Wellcome Trust, Quintain Estates to set up 50:50 property fund joint venture |
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Published
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Wed, 21 Mar 2007 11:11
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LONDON (AFX) - Wellcome Trust Finance PLC said it has entered into a 50:50 joint venture with Quintain Estates & Development PLC to set up the iQ Property Partnership Fund, which will develop student accommodation.The company said both firms will invest up to 100 mln stg in equity each in the joint venture and that iQ will run for a minimum of 5 years with an initial investment target of over 600 mln stg.Wellcome added that the fund's first two schemes in Sheffield and Nottingham have been completed and two projects in Birmingham and Salford are due for completion in 2007, with a third in Kingston that will be completed in 2008.newsdesk@afxnews.comssa/pmi/tcCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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