UBS Asset Management (UBS-AM) Real Estate & Private Markets (REPM) has purchased a prime student-accommodation asset in Nottingham, England, on behalf of its U.K. core real estate strategy for £59.8 million (€71 million/$79 million).
The property, which can house 483 students across 340 dwellings, was purchased from Tosca Mill 1 Ltd., backed by Toscafund via its investment in Mabec. The acquisition comprises a strong asset in a high-demand growth sector, and complements UBS-AM REPM’s existing purpose-built student-accommodation (PBSA) holdings.
Located in central Nottingham, the site provides excellent access to the campuses and facilities of both the University of Nottingham and Nottingham Trent, alongside the city center, increasing the tenancy prospects of the asset.
Originally a mill, the site was redeveloped in 2019 as student accommodation, benefiting from modern and purpose-built features, such as a gym and cinema room. Nottingham has one of the
