Aviva Investors acquires £150m student portfolio
Aviva Investors, the global asset management business of Aviva, has acquired a portfolio of six purpose-built student accommodation assets and a mixed-use commercial investment from CBRE Global Investors.
The student accommodation portfolio comprises six assets in four cities across the UK, including Edinburgh, Liverpool, Exeter, and Falmouth, which together cater for more than 1,000 students.
Aviva Investors’ operating partner is Curlew Capital, which will be responsible for lettings, maintenance. Fresh will continue to operate the PBSA assets.
Aviva Investors, the global asset management business of Aviva, has acquired a portfolio of six purpose-built student accommodation assets and a mixed-use commercial investment from CBRE Global Investors.
The student accommodation portfolio comprises six assets in four cities across the UK, including Edinburgh, Liverpool, Exeter, and Falmouth, which together cater for more than 1,000 students.
Aviva Investors’ operating partner is Curlew Capital, which will be responsible for lettings, maintenance. Fresh will continue to operate the PBSA assets.
The acquisitions include: the 159-bed Cricket Field Court and 150-bed The Barn, both in Exeter; the 203-bed Potterrow in Edinburgh; the 124-bed Packsaddle in Falmouth; the 412-bed Lantern in Liverpool; a Premier Inn and a Lidl.
James Stevens, head of real estate investment at Aviva Investors, said: “Complementing our build-to-rent platform of single-family homes, this significant transaction shows our ability to deploy capital at scale, alongside a proven operating partner, into a strategically important growth sector for our business.
“Student numbers are projected to continue growing in the coming years and, with a structural undersupply of purpose-built accommodation, we are pleased to be able to invest into the sector and support the provision of high-quality accommodation across the country.”
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