Arlington Investors has bought two UK student housing portfolios.
The Jersey-based company spent £124m (€160.5m) on seven assets sold by the Spectrum Housing Association and Sanctuary Students totalling 1,450 beds.
Clients of Legal & General Investment Management (LGIM) financed the deal through a privately placed listed bond.
The portfolio – in Birmingham, Cheltenham, Exeter and Gloucester – is Arlington’s third portfolio purchase in the sector and takes its holdings to 7,000 beds.
George Shweiry, founder and chief executive of Arlington Advisors, said: “As the sector attracts a growing pool of international players, funding sources are becoming increasingly diverse and competitive.”
Arlington Investors, created in 2013 to represent family offices in Europe and the Middle East, has now invested £450m in the sector.
The company has worked with Campus Living Villages, buying more than 4,500 beds from the portfolio of the former Opal Student Property Group in a £245m transaction in February 2014.
Last September, it bought 400 beds from Goldsmiths, University of London.