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Sign in Sign up for a FREE subscriptionHarrison Street sells four student housing assets within UK PBSA portfolio
Harrison Street has sold four purpose-built student housing properties in the United Kingdom to City Developments Limited (CDL).
The transaction comprises four purpose-built student accommodation assets in Canterbury, Birmingham, Coventry, and Leeds with a total of 1,657 beds. The assets were individually developed by Harrison Street European Property Partners II (vintage year 2017) alongside two joint venture partners – Linkcity, the property development arm of Bouygues UK, and Crosslane Property Group – and ultimately packaged in a portfolio for sale. The portfolio produced an attractive return with a gross purchase price of £185 million (€214million/$228 million). This disposition reenforces capital markets continued demand for demographic-driven real estate, despite the broader market slowdown.
Paul Bashir, CEO of Harrison Street Europe, said, “We are pleased to partner with the high-caliber team at CDL to complete the sale of these four, high-quality P
