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CPPIB extends their portfolio with £330m Student Castle purchase

The Canada Pension Plan Investment Board (CPPIB) has extended their share within the UK student market, acquiring the five-property Student Castle portfolio for a total of £330m.

UK Student Accommodation Investment

The Canada Pension Plan Investment Board (CPPIB) has extended their share within the UK student market, acquiring the five-property Student Castle portfolio for a total of £330m.

The properties, which house a total of 2,153 beds across the five schemes, are located throughout the UK and will be added to the newly formed CPPIB Liberty Living brand, created after CPPIB purchased the Liberty Living portfolio for a total of £1.1bn.


The student schemes are spread across five of the UK’s largest student cities: London, Manchester, Newcastle, Bristol and Cardiff.


Speaking about the acquisition, chief executive of Liberty Living, Charles Marshall said: “The opportunity to acquire these five high-quality residences from Student Castle is a coherent next step in growing our operational portfolio, given the high specification, modernity and location of the assets.


Marshall added: “We believe this transaction is an excellent example of the marriage of CPPIB’s long-term capital to the Liberty Living operating platform to acquire top quality assets in the sector.”


This latest acquisition is part of a record year for the student accommodation sector. According to Savills, the asset class has already achieved more than £4.2 billion worth of investment this year, up 70% on last year’s total and standing 40% higher than the previous investment peak in 2012.


Figures from JLL at the end of June suggested that the sector could reach as high as £5.75bn by the end of this year.

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