US investor splashes out £600m on luxury student accommodation

Rent at some Greystar Real Estate Partners properties can be as much as £474 a week

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The Independent Online

A US investor has splashed out £600m on a luxury student accommodation portfolio in London where rents are as much as £474 per week.

Greystar Real Estate Partners’ purchase includes properties in King’s Cross, Spitalfields and Notting Hill.

At the Spitalfields building close to Liverpool Street station, some weekly rents can be as much as £474.

Gyms, cinema, karaoke rooms, and bars feature across some of the properties.

Bob Faith, founder and chief executive of Greystar said the assets provide  students in London “with the absolute finest level of accommodation to live, study and socialize”.

His company bought the 2,375 beds from Nido London whose investors include the Coral Student Portfolio, and overseas stakeholders advised by Curzon Land and Round Hill Capital.

 

The deal comes nearly three years after Round Hill Capital acquired the portfolio from Blackstone for £415m.

Investment in the UK student housing market continues to attract overseas money, attracted  by high rents and strong occupancy levels.

Earlier this month Russian billionaire Mikhail Fridman was behind a £61m purchase of a student accommodation block in Southwark.

 

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