BlackRock Real Assets has instructed Savills to sell a circa £300m student accommodation portfolio known as the Onyx Collection.
The portfolio, which sits in its Europe Property Fund IV, comprises four properties in London, Sheffield, Dublin and Leeds. It is being marketed with scope to buy either a part of each, or some or all of the assets.
The vendor is seeking a yield of between 3.9% and 5.25% for each asset.
These include a 273-unit site in Hoxton, N1; the 966-bed Point Campus in Dublin’s docklands; The Elements in Sheffield, which has 735 beds; and a 239-bed asset on Cavendish Street in Leeds.
The Leeds site was bought as part of a forward-funding agreement with Hull-based Ashcourt Group in 2016.
Additionally, BlackRock bought Point Campus in partnership with developer O’Flynn Group in 2016. for more than €20m (£17m).
In 2017, the Hoxton scheme, at 11-13 London Street, became the first student development to secure a green loan from Lloyds Bank.
BlackRock had closed the fund in 2017 with €700m (£608m) in commitments. The fund, which launched in 2015, targeted European value-add assets.
All parties declined to comment.
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