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UK: QuadReal Property Group has appointed Collegiate UK to operate its UK purpose-built student accommodation (PBSA) portfolio.
Quadreal acquired the portfolio from Apollo Real Estate in August last year. It comprises 3,460 beds across eight assets in key UK university cities. These are London (Wembley), Portsmouth, Cardiff, Norwich, Edinburgh, Sheffield, Glasgow and Birmingham.
OPRE Solutions, which advised QuadReal on the deal, conducted the operator search on QuadReal’s behalf.
The portfolio had previously been managed by several different UK operators, with Collegiate UK already operating three of the eight assets.
Neil Burton, chief operating officer at Arlington Group and Collegiate UK, said: “Expanding our relationship with QuadReal to manage this significant PBSA portfolio marks a significant step in the continued growth of our UK platform, increasing our scale by around 20 per cent and reinforcing the strength of our operating model and results being delivered across existing assets. At Collegiate UK, performance and resident experience are intrinsically linked. Strong on-site leadership, disciplined operations and data-led decision making allow us to create well-run, high quality environments where residents feel supported and communities can thrive.”
“As a professional operating platform, we focus getting the fundamentals right, delivering financial value and enhancing long-term asset performance through a transparent and aligned approach with our partners. This operational discipline and resident-first mindset underpin consistent performance across the portfolio,” he added.
Adam Francis, vice president of international asset management at QuadReal, added: “Appointing Collegiate UK as operator across this portfolio marks an important step in executing our asset management strategy following last year’s acquisition. We look forward to working closely with Collegiate UK to drive performance and deliver high quality living environments for students across these key university markets.”
Brian Welsh, CEO of OPRE Solutions, said: “Our mandate was to look at the portfolio as a whole in order to drive operational efficiency, create value and ensure a high quality consistency when it comes to the community experience. It was a highly competitive tender process and all those involved demonstrated operational strengths which is testament to how far the sector has come in recent years. Collegiate UK’s strong existing relationship with the team combined with a laser focus on customer experience, and track record across all locations meant it was best placed to drive performance across the whole portfolio.”
Highlights:
- QuadReal Property Group has appointed Collegiate UK to operate its UK purpose-built student accommodation (PBSA) portfolio.
- Quadreal acquired the portfolio from Apollo Real Estate in August last year. It comprises 3,460 beds across eight assets in key UK university cities
• These are London (Wembley), Portsmouth, Cardiff, Norwich, Edinburgh, Sheffield, Glasgow and Birmingham - OPRE Solutions, which advised QuadReal on the deal, conducted the operator search on QuadReal’s behalf
