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BKL advises on major UK student accommodation property sale

27 February 2019

 

BKL advised Fusion Students on the sale of a substantial portfolio of its purpose-built accommodation in Nottingham, Newcastle, Cardiff and Bristol for more than £230 million.

The deal comprises 1,857 beds, generating revenue of around £16 million in the key Russell Group university cities. It is one of the biggest recent sales in the growing student accommodation sector.

BKL has supported Fusion Students from the beginning, helping it grow across the country in the purpose-built student accommodation (PBSA) market.

‘The Stellar Portfolio’ has been bought by Arlington Advisors and Equitix in a joint venture between the property and infrastructure investors.

Arlington is the sixth largest overall platform for student accommodation in the UK (source: Radius Data Exchange)

Jason Appel, Property and Real Estate partner at BKL, said: “We were delighted to be trusted as key advisers by Fusion Students during this important transaction,  ensuring that its interests were met throughout.”

Jason said: “Fusion is a dynamic, highly effective company delivering high quality properties across the UK, and it is a privilege to be part of their corporate journey.”

Fusion Student retains a substantial PBSA portfolio and has new developments in progress.

Nigel Henry and Warren Rosenberg, co-founders of Fusion Students, said: “Jason and his team at BKL are a key part of our decision-making process. We trust their judgement and guidance. Fusion Students has many exciting projects underway and will continue to deliver well-built, top quality properties in centres of educational excellence where demand and expectations are high.”

For more information, please get in touch with your usual BKL contact or use our enquiry form.

You can learn more about how BKL has helped Fusion in our property brochure.