Barclays to Spin Off Campus Development Arm

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Last Updated ( 05/10/2010 16:02 )

DATE_FORMAT_LC2=Sunday,May 09 2010 07:00:00 PM

Barclays to Spin Off Campus Development Arm

London — According to published reports, Barclays Capital has announced plans to sell University Partnerships Programme (UPP), its campus development arm. The deal is expected to raise up to £800 million, which Barclays will use to help fund future development projects.

UPP currently owns and manages approximately 20,000 beds at 11 universities across the United Kingdom, with several projects in various stages of development. The plan will tentatively call for the company's asset management and development operations to be split in two and sold off.

— Coleman Wood

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