Empiric Student Property has bought student accommodation blocks in Liverpool and Stoke-on-Trent from Urban Sleep for £41.6m.
Empiric is paying £22.8m for the properties and will take on £18.8m of debt provided by Santander.
Urban Sleep will operate the properties, which total 502 beds and are 92% let.
The portfolio comprises six blocks in Liverpool and Caledonia Mill in Stoke.
