Centurion Corp. to increase U.K. PBSA investments

Singapore-based Centurion Corp. has plans to increase its U.K. purpose-built student accommodation (PBSA) portfolio with the launch of a second student accommodation private fund. A formal release has not been issued.

A fund size and fundraising goal were not disclosed.

Centurion is seeking potential investors to fund plans to expand its U.K. offering over the next three years, operating under its student living brand.

The company operates eight assets, 2,416 beds in the United Kingdom as of June 2018.

Supply remains low in mature markets such as Australia, United Kingdom and the United States, with national provision rates (beds to full-time higher education students) at 6 percent in Australia, 24 percent in the United Kingdom and 12 percent in the United States.

High demand for quality PBSA in the United Kingdom totals full-time student numbers stable at 2.3 million, including 436,900 full-time international students.