LetterOne has put its £800m student accommodation portfolio up for sale.
The company backed by Russian billionaire Mikhail Fridman has appointed JLL to market the 10-asset, 3,600 bed collection.
LetterOne entered the student accommodation market in 2015 when it bought Carlyle Group’s £532m Pure Student Living portfolio and has been building it up ever since. The portfolio includes assets in Hammersmith, Highbury, Whitechapel and Southwark.
If a deal is completed it will be the largest deal of 2017 thus far. The largest thus far in the UK has been CPPIB-backed Liberty Living’s £460m purchase of Blackstone’s Liberty portfolio.
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