Goldman Sachs, Greystar and Wellcome Trust have formed a £2bn joint venture, Vero Group, to compete in the student accommodation sector.
Goldman will own 68.4% of the new company, Wellcome will have a 28% holding and Greystar will have 3.6%.
Vero’s portfolio will initially comprise 23,500 beds in 25 UK towns, but expansion plans could see it either buying existing assets or taking advantage of development opportunities.
