Vita Group has sold three purpose-built student accommodation assets to Savills Investment Management on behalf of a client for £300m.
The deal, which totals 1,340 beds, comprises Cannon Park in Warwick, Iona Street in Edinburgh and Bruce Street in Belfast.
Vita Student will continue to operate the assets on behalf of Savills IM.
Ioannis Verdelis, chief investment officer for Vita Group, said: “The UK’s purpose-built student accommodation market continues to be an exciting and resilient asset class for investors as demand from students for high-quality PBSA continues to outstrip supply, creating an attractive proposition for any investor.”
Adrian Martin, director at Savills IM, said: “This strategic acquisition underscores our conviction for the long-term resilience of the PBSA sector in the UK. The acquired assets are examples of best-in-class buildings, and Vita is an operator with a compelling reputation.”
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