UK: CVC DIF, the infrastructure arm of global private markets firm CVC, has acquired two purpose-built student accommodation (PBSA) assets in Edinburgh and Glasgow from Mapletree Global Student Accommodation Private Trust.
The deal was advised by the Edinburgh-based property consultancy Ryden.
The properties, Beaverbank Place in Edinburgh and Firhill Court in Glasgow, will add approximately 750 bedrooms to Ottoway Portfolio Holdings (Ottoway), CVC DIF’s UK student housing platform.
With the acquisition, Ottoway’s portfolio now totals over 5,000 beds across the UK’s main university cities.
The assets are backed by nomination agreements with leading universities and are located in high-demand student markets, benefiting from strong occupancy levels.
The acquisition builds on Ottoway’s existing portfolio of eight UK student accommodation assets held under DIF Infrastructure VI.
Gijs Voskuyl, managing partner at CVC DIF, said: “The acquisition of Beaverbank Place and Firhill Court is a significant step in our value creation strategy for the Ottoway platform. By expanding and diversifying our Ottoway portfolio, we are better positioned to address the evolving needs of the student accommodation sector.”
CVC DIF said it continues to target further growth in the PBSA sector, which is supported by demographic demand and supply constraints in key university locations.
Ottoway said its strategy focuses on delivering student-focused housing solutions and developing long-term partnerships with higher education institutions across the UK.
Both PBSA assets remain under management by Homes for Students.
