Holland’s DIF buys two UK PFI accommodation deals(3)

The Dutch fund manager has acquired an army housing project in Portsmouth and 50% of a university accommodation development in Hertfordshire

Dutch fund manger DIF has made two deals from its Infrastructure II fund this year, buying two private housing projects.

It acquired a Ministry of Defence private finance initiative (PFI) development in Portsmouth, comprising 148 four-bedroom houses for service families, from Galliford Try Investments and Barclays European Infrastructure Fund. It has a remaining term of over 20 years and the total construction cost is estimated at £30 million.

DIF has also bought a 50 percent stake in a Hertfordshire University accommodation scheme, providing bedrooms for 1600 students, from the Royal Bank of Scotland and remaining shareholder Carillion Private Finance. Construction costs are around £55 million and it has a term of nearly 25 years.

Amsterdam-headquartered DIF made the investments from its Infrastructure Fund II, which closed in November 2008 on €200 million.