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UK: Harrison Street Asset Management has sold six PBSA assets comprising 1,616 beds to Australian pension fund AustralianSuper, for an undisclosed sum.
The assets are located in London (Wick Park), Birmingham (Compass), Belfast (Aster House), Leicester (The Aspen), Edinburgh (Huxley Studios), and Cardiff (Cardiff). All are located near leading universities and all were built between 2020/2023. They feature a variety of modern amenities such as gyms, courtyard terraces, coffee bars, study lounges, and social spaces designed to meet the expectations of today’s students.
Paul Bashir, CEO – Europe at Harrison Street Asset Management, said: “Over the last decade, we have been a pioneer in European alternative real estate, and we are pleased to see institutional investors increasingly rotate towards our sectors of focus. We believe this sale demonstrates the continued global interest in high-quality, purpose-built student housing and underscores our ability to deliver institutional portfolios at scale. We’re proud of the platform we’ve built in Europe and remain committed to identifying opportunities that create value for our investors across market cycles.”
“We feel this transaction reflects the strong fundamentals of the UK student housing market. Our ability to aggregate, enhance and strategically exit portfolios in top-tier university cities continues to be a key differentiator. As the UK student housing sector continues to expand, we expect our early-mover advantage and deep sector expertise to position us to identify, develop, and operate high-quality student accommodations that meet the evolving needs of students,” he added.
Vicky Stanley, senior investment director for real assets at AustralianSuper, said: “AustralianSuper is pleased to have acquired this portfolio of assets. This acquisition executes on the strategy of our new UK Living platform to scale with quality homes for rent, anchored to high demand university locations, with the opportunity to grow income and deliver for members over the long term.”
Highlights:
- Harrison Street Asset Management has sold six PBSA assets comprising 1,616 beds to Australian pension fund AustralianSuper
- The assets are located in London, Birmingham, Belfast, Leicester, Edinburgh, and Cardiff. All are located near leading universities and all were built between 2020/2023
- The transaction value has not been revealed
