Aviva Investors has acquired a £150m (€175m) portfolio in the UK’s direct-let purpose-built student accommodation (PBSA) sector, expanding its portfolio focus.

The global asset manager said it has acquired six student housing assets located in Edinburgh, Liverpool, Exeter, and Falmouth, as well as a complementary commercial asset in Liverpool spread over 65,000sqft and offering mixed-use leisure and retail spaces including hospitality, hotel and supermarket facilities.

James Stevens, the head of real estate investment at Aviva Investors, said: “Complementing our build-to-rent platform of single-family homes, this significant transaction shows our ability to deploy capital at scale, alongside a proven operating partner, into a strategically important growth sector for our business.

”Student numbers are projected to continue growing in the coming years and, with a structural undersupply of purpose-built accommodation, we are pleased to be able to invest into the sector and support the provision of high-quality accommodation across the country.”

Aviva Investors’ operating partner will be Curlew Capital, which will be responsible for lettings, maintenance and ongoing site management alongside property managers Fresh.

To read the latest IPE Real Assets magazine click here.