Arlington Investors buys two UK student housing assets
Arlington Investors has invested £85.5m (€99m) in two UK student housing assets.
Rockspring Property Investment Managers sold the properties, which offer 951 beds, in London and Leeds.
The latter was bought with funding partner Aviva Investors while the London asset was financed by a bond placement through Legal & General Investment Management clients.
George Shweiry, founder and chief executive of Arlington, which is backed by family offices and Middle Eastern investors, said: “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.
“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.”
Shweiry said he expects additional opportunities to add value for our investors in the short term.
Arlington’s portfolio includes more than 7,800 beds worth over £500m.
The Jersey-based company spent £124m on seven assets sold by the Spectrum Housing Association and Sanctuary Students totalling 1,450 beds in March this year.