Barings is to forward purchase a 183-bed student accommodation scheme in Brighton for £43.7m.
The investment manager will buy Crown House, due to complete this summer, from Studious Investment Management.
Darren Hutchinson, Barings’ head of UK real estate transactions, said the company’s PBSA strategy sees it eyeing cities in which “supply remains constrained, the local economy is well diversified and robust, and there is a proven depth of occupier demand”.
“The student accommodation sector has demonstrated its resilience throughout the pandemic – with UCAS applications at an all-time high last year – and Brighton’s chronic undersupply of high-quality PBSA made this a compelling investment opportunity,” he added.
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