Fusion Students, the innovative, experience-led, student accommodation company, has sold four Purpose Built Student Accommodation (PBSA) schemes to a joint venture of Arlington Advisors and Equitix. The best-in-class collection of buildings, known as The Stellar Portfolio, was sold in excess of the asking price of £232 million at the end of 2018. The four buildings, with some 1,857 beds in all, are centrally located in the key Russell Group university cities of Newcastle, Nottingham, Cardiff and Bristol.
The sale will enable Coverdale Barclay client Fusion Students to reinvest the capital in its ambitious expansion plans both in the UK and overseas. In recent months, the company has secured planning permission for a 17-storey co-living development in Sheffield city centre, and a 22-storey student and commercial scheme in Swansea. Additionally, student accommodation buildings are under construction in Cardiff and Hatfield that are due to open in 2019. These developments cover some 3,000 beds in all.
With a strong emphasis on design and creativity, Fusion Students is a well-established investor, developer and operator of first-class student accommodation. The company provides a safe and inspiring living environment for students to achieve an enjoyable and balanced student life, geared towards academic success.
Coverdale Barclay secured wide coverage for the deal in the media including in The Daily Telegraph: https://is.gd/dBSCZQ