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UK: Real estate investment manager Orka Investments has acquired the Hill View Place purpose-built student accommodation (PBSA) scheme in Exeter.
The asset was purchased through a joint venture with a global institutional real estate investor, for an undisclosed sum.
The 226-bed PBSA scheme, which is located adjacent to the University of Exeter’s Streatham Campus, opened in 2022 and offers a mix of en-suite rooms, studios, townhouses and penthouse apartments. Amenities include a gym, cinema lounge, games room, communal lounge and outdoor space. It is fully let for the 2026/27 academic year.
The acquisition was part-funded with an acquisition loan from Investec Real Estate.
Orka’s joint venture launched in December 2025 with three acquisitions providing circa 1,300 beds in Birmingham, Glasgow and Aberdeen. Hill View Place is the joint venture’s first acquisition since this launch, taking the portfolio to 1,512 beds.
Raoul Malhotra, founder and CEO of Orka Investments, said: “The years when student housing could rely on rapid rent growth are behind us, and that changes where returns come from. Students now choose between purpose-built accommodation, shared houses, build-to-rent and living at home. PBSA cannot always win that competition on price alone, so we win it on product, service and flexibility, and a well-located building like Hill View Place gives us everything we need to do that.”
Philippe de Croÿ-Solre, vice-president, investments at Orka Investments, added: “Hill View Place is a high quality, fully let scheme in a Russell Group city where applicant numbers are rising faster than anywhere else in the group. We are pleased to have completed it efficiently alongside our partners and advisers, and we have further acquisitions in the pipeline.”
Sebastian Walley, originator, real estate finance at Investec Real Estate, said: “The UK remains a global higher education leader, which has underpinned our over 15-year track record funding high-quality, well-located student schemes. We are particularly comfortable supporting sponsors that understand the trends driving customer demand and manage leasing arrangements, as this usually results in a more reliable income stream that performs well across a cycle.”
The joint venture was advised by Simmons & Simmons and Colliers. Newmark acted for the vendor.
Highlights:
- Real estate investment manager Orka Investments has acquired the Hill View Place purpose-built student accommodation (PBSA) scheme in Exeter.
- The asset was purchased through a joint venture with a global institutional real estate investor, for an undisclosed sum
- The purchase was part-funded with an acquisition loan from Investec Real Estate
