Barclays Capital looks again at UPP sale
Barclays Capital is revisiting plans to sell part or all of its stake in student accommodation provider University Partnerships Programme (UPP), the Financial Times has reported.
Several property firms and investors are believed to be interested in UPP, which is owned by the infrastructure funds of Barclays Capital. These include Quintain, Telereal Trillium, Lend Lease, Macquarie and Campus Living.
The proposals come after Barclays Capital opened a strategic review into funding options for UPP in May last year. Among the other options for raising capital, the review is considering securing longer-term financial backing from institutional investors in UPP, such as by issuing commercial mortgage-backed securities to raise up to £500 million …