DWS acquires £600m U.K. student housing portfolio

DWS has acquired a purpose-built portfolio of “Vita Student” assets across Manchester, Glasgow, Edinburgh, Leeds, Birmingham, and Newcastle in the United Kingdom.

The sales price was £600 million ($724 million). The seller was Vita Group.

Vita will continue to manage and operate the buildings on behalf of DWS.

The portfolio comprises 3,198 beds.

Ronen Ribak, head of real estate transactions in Europe at DWS, said, “A high-end portfolio in strong locations catering to both local and international students was critical in our decision to acquire this portfolio, and to partner with a true experience-led operator such as Vita Group.

“We will continue to seek best-in-class student housing properties across Europe and partner with managers and operators with a shared trajectory of growth as we continue to deploy capital in the European student housing sector.”