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DIF Capital Partners acquires U.K. PBSA portfolio
DIF Capital Partners has acquired Ottoway Portfolio, which owns and operates a portfolio of eight purpose-built student accommodation (PBSA) assets in key U.K. cities, from a fund advised by Arlington Advisors and Campus Living Villages. Financial terms were not disclosed.
Ottoway Portfolio has a sizable portfolio of PBSA assets, consisting of more than 4,500 rooms across seven key cities in England and Wales. The majority are freehold assets, and the portfolio benefits from a number of fixed leases and long-term agreements with universities.
The portfolio has a considerable operational track record with historically high levels of occupancy driven by strong locations, well-priced rooms and close relationships with universities. The portfolio also benefits from existing institutional financing.
“We recognize the important role that PBSA plays for both local and foreign students, thus we look forward to working alongside high-caliber educational institutions to