CPPIB-owned firm acquires a £460m accommodation portfolio
Canadian-based Liberty Living has acquired a £460 million (US$572 million) portfolio of properties from Blackstone becoming the second largest provider of student accommodation in the UK.
The acquisition namely involves the Union State portfolio, a group of properties comprising 13 student halls in cities such as Manchester, Birmingham and Sheffield.
With assets comprising 25,000 beds, the company now only lags rival Unite in the student accommodation market, which has grown rapidly.
The transaction was financed by Liberty’s owner the Canada Pension Plan Investment Board, which buought the firm in March 2015.
According to property agency Cushman & Wakefield, the number of purpose-built student bed spaces increased 5.4pc in 2016 compared to the previous year, hitting 568,000. There is particular demand in regional cities, where yields on investments are often better.
Country news
-
-
April 05, 2017
Financial close for Leeds health PFI refinancing
Assured Guaranty (Europe) Ltd. (AGE) has announced that it has guaranteed principal and interest payments on approximately £261 million (US$325 million) of bonds and notes raised by St. James’s Oncology Financing Plc to refinance a PFI project for the design, building and maintenance of the Bexley oncology wing of the St. James’s University Hospital in Leeds.
Read more -
April 04, 2017
TRIG raises £110 million in new equity to fund a pair of deals
The Board of The Renewables Infrastructure Group Limited (TRIG) has announced that the company has raised gross proceeds of £110.0 million (US$110 million) through the issue of 106,796,117 New Ordinary Shares at a price of 103.0 pence per New Ordinary Share.
Read more -
April 03, 2017
Financial close for NHS Orkney hospital
Robertson Group has announced it has reached financial close with NHS Orkney to deliver a major investment in Island-based healthcare services located in Kirkwall, Orkney (UK).
Read more -
March 31, 2017
PIN issued for the £500 million Smithfield regeneration scheme
Birmingham City Council (BCC) has issued a Prior Information Notice (PIN) for the development services of real estate.
Read more -
March 28, 2017
Foresight raises £40 million
Foresight VCT PLC has announced that the maximum number of subscriptions of £40 million (US$50 million) has been received and the Offer is now closed for further applications.
Read more
