The deal, struck with asset management fund DWS, underlines the strength of the UK’s leading PBSA brand, and is also a huge vote of confidence in the UK’s student property sector.
Vita Group, Select Property Group’s sister company, has completed the sale of eight Vita Student residences to asset management fund DWS Group for £600 million.
Totalling 3,198 purpose-built student apartments, the portfolio sale consists of developments in Manchester, Glasgow, Edinburgh, Leeds, Birmingham and Newcastle.
This deal for Vita Group will allow the company to further grow its student property portfolio. Currently Vita Student operates 5,760 bed spaces in 19 residences across 12 UK cities. But this funding will help drive both domestic and international expansion, including plans in the pipeline for the brand’s first international Vita Student project in Barcelona.
Commenting on the deal, Mark Stott, CEO of Vita Group, said: “Finding the right strategic investment partner was imperative to the future of our business and I’m delighted to announce today’s news. This deal is hugely significant for both the next chapter of growth for Vita Student and the wider Vita Group as we bring more innovative brands to market.”
About Vita Student
Vita Student is Vita Group’s award-winning UK student property brand. A proven investment, it has been delivering strong returns for investors – and high satisfaction to its tenants – since 2012. Select Property Group has been Vita Group’s exclusive sales partner for Vita Student from day one.
While the UK is widely renowned globally for the quality of its universities, traditional student property in the country often fell well below the standards demanded by an increasingly international student population.
Vita Student changed UK student accommodation:
- Luxury purpose-built student apartments
- Central locations in Russell Group university cities
- The finest communal facilities in the country
- A level of customer service that raised standards across the industry
The brand is now firmly established as the leading experience-led student property provider in the UK’s £53 billion PBSA sector.
To date, Select Property Group has sold over 3,500 Vita Student properties to our global investors.
Comment from Select Property Group
“This deal underlines the strength and credibility of Vita Student. It leads an increasingly competitive PBSA market, with students across the UK consistently demanding the living spaces, facilities and level of customer service that only Vita Student delivers on.”
“Furthermore, this is a £600 million investment into UK student property from one of Europe’s largest asset management company. Amid the wider ongoing developments with Brexit, this is a huge vote of confidence in the enduring strength of British student real estate and the confidence investors have in the resilience and future growth of the sector.”
Adam Price, Managing Director, Select Property Group
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