UK: Global investment company abrdn has entered in to a PBSA JV called MYS Student Living.
MYS is a joint venture with David Mathewson and Murdo Mcilhagger, both formerly of Straits Capitol, a subsidiary of Singapore Press Holdings.
It is targeting more than 200 properties across 11 countries. MYS Student Living will aim to address the UK and Europe’s student housing shortage and support the growing university age population which is impacted by the limited supply of quality, sustainable accommodation. With more domestic and international students attending university than ever before, key purpose-built student accommodation markets across the UK and Europe are experiencing supply shortages, and existing properties are often not fit for purpose.
MYS aims to provide a differentiated experience for students, universities and investors by offering a values-led proposition with strong ESG credentials and maximising the customer experience.
MYS is targeting a B-Corp status, and abrdn has also said the accommodation on the platform will be energy-efficient and offer community space.
Neil Slater, head of real assets at abrdn said: “PBSA investment solutions are an interesting and growing segment of the residential market offering income-driven returns and the ability to create a sustainable and values-led investment opportunity. In addition, well-run PBSA can achieve enhanced value from assets that are often under-managed. We’re excited to have MYS Student Living as an in-house provider of highest quality accommodation.”
David Mathewson, joint managing director of MYS said: “Creating the MYS Student Living platform with abrdn harnesses two levels of expertise. abrdn is one of the largest residential fund managers in Europe and MYS is a first mover in the new category of values-led student housing. Both abrdn and MYS are focused on delivering assets with best- in-class ESG credentials that fulfil the clear and growing needs of both students and universities. The ambition is to provide investors with strong and dependable returns while creating the user-friendly, sustainable, low-carbon student housing of the future.”
