UK-based on-campus residential and academic accommodation infrastructure company University Partnerships Programme (UPP), has reached 139.7 million pounds ($178 million) financing deal for its East Park project with the University of Exeter.

Under the pact, UPP will design, build, fund and operate 1,182 high-quality bedrooms on the University’s Streatham Campus and manage over 4,000 rooms on the University of Exeter campus.

The investment also will include $159.3 million of debt financing from Pension Insurance Corp. PLC, (PIC) and $18.6 million of debt and equity provided by UPP Group and its Shareholders.

The construction works of the East Park project will commence in January 2019, with the rooms set to become operational over two phases in September 2020 and September 2021.