Blackstone buys London, Edinburgh student housing for €424m
iQ Student Accommodation, one of the U.K.’s leading providers of student housing and a Blackstone portfolio company, has supported Blackstone in the acquisition from Downing Students of two high-quality, purpose-built student accommodation (PBSA) assets — Vega in London and The Mont in Edinburgh.
Financial terms were not disclosed in the official release; however Bloomberg reported a sales price of approximately £370 million (€424 million/$429 million).
Vega is an 841-bed property located in Vauxhall, close to key transport links which provide excellent connectivity to top tier universities throughout central London. Opened in 2021 and built to a BREEAM Excellent standard, it offers best-in-class amenities for residents, including a gym, private dining area, sky lounge and roof terrace.
The Mont, a brand-new property which opened in September 20