Arlington Investors has announced the purchase of ten buildings leased to the University of Leeds from Rockspring Property Investment Managers as part of an £85.5 million property acquisition.
Alongside the Leeds properties, Arlington also acquired a London based building with 232 studios that are let to students.
With this purchase, Arlington now boasts over 7,800 beds and an overall investment of more than £500 million in this sector.
“We believe that the UK student accommodation sector is well positioned to weather the immediate turbulence caused by the UK vote to leave the EU,” says George Shweiry, Founder and Chief Executive of Arlington Advisors.
“Underpinning this is the strong and growing demand from UK and international students for spaces at the country’s higher education institutions, where good quality accommodation directly supports their learning needs.
“While we continue to grow our student accommodation platform we are also engaged in a range of exciting investment prospects in the UK, where we expect to see additional opportunities to add value for our investors in the short term,” he continues.
Family offices and investors from the UK and the Middle East are backers of Arlington Investors, and the firm was advised in this transaction by Osborne Clarke, McGuireWoods and DWPF.
Additionally, Ben Fry and his team from Trade Risks acted as Bond Arranger and Dealer to Arlington Investors and a team led by Ben Brindle from Risk Capital Advisors acted as Transaction Risk insurance advisers.