Blue Sky Alternative Investments Limited
(ASX:BLA) says it has entered a joint venture with a subsidiary of Goldman Sachs to invest in student accommodation.
The 50/50 JV will look at opportunities in Australia and New Zealand to target a portfolio of five to ten thousand beds with an end value of up to $1.5 billion in fee earning assets.
Terms have been agreed with sign off expected this week. Blue Sky says it doesn’t expect any impact on earnings till next financial year.
Blue Sky reported a net profit of $4.48 million for the six months to the end of December 2015.
