Mace has completed the sale of Assam Place to Greystar Real Estate Partners for 拢110m.
Assam Place is a self-contained campus of three buildings in Aldgate. Home to the Hult International Business School, it has 346 student residential rooms and 3,513m2 of university teaching space.
Mace acquired the site in 2010 and then redeveloped and refurbished the part-listed building, which was fully occupied in September 2012.
Chief operating officer David Grover said: 鈥淭here was a lot of interest when we first put the development for sale on the open market and I鈥檓 delighted that we鈥檝e found an ideal buyer with Greystar. This was a perfect project for Mace investment giving us the opportunity to develop, construct, let, and then sell the asset, which allows us to reinvest the capital into future projects.鈥�
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