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UK: QuadReal Property Group, a global real estate investment, development and operating company, has acquired eight PBSA assets totalling 3,460 beds.
The seller was a group of funds and entities managed by Apollo.
The portfolio is comprised of assets located in key PBSA markets across the UK, including London, with 75 per cent of the portfolio situated within proximity of Russell Group universities.
All the buildings were developed within the last five to seven years and feature gyms, coworking spaces, audio-visual rooms, common areas, and event spaces. The asset manager for the portfolio is OPRE Solutions.
Jay Kwan, managing director, Europe, at QuadReal said: “Across our global portfolio, we are highly selective about the assets we acquire, and target markets with strong fundamentals and significant demand drivers. With resilient demand, structural undersupply, and a large cohort of international students, we have been actively looking to grow our PBSA exposure in the UK and this is an opportunity to expand our student housing platform.”
Kristian Branum-Burns, senior vice president, Europe, international real estate, at QuadReal, added: “This transaction is fully aligned with our fundamentals-driven residential strategy in Europe, and student accommodation is a crucial sector for us. These are high quality, amenity-rich assets servicing in-demand universities across the country, and the portfolio is well placed to deliver sustained rental growth over the coming years.”
QuadReal has significant experience in the residential and student accommodation sectors. Its global portfolio includes over 65,000 residential units and 28,000 student beds, predominantly in North America and Australia. In the UK, QuadReal has over 8,500 residential units and 1,000 student beds across 29 communities and has delivered more than 1,300 units in 2024 alone, in part via its partnership with Realstar.
Highlights:
• QuadReal Property Group, a global real estate investment, development and operating company, has acquired eight PBSA for more than £500 million
• The 3,460-bed portfolio was sold by funds and entities managed by Apollo
• All the buildings were developed within the last five to seven years and feature gyms, coworking spaces, audio-visual rooms, common areas, and event spaces
