M&G Real Estate has expanded its UK purpose-built student accommodation (PBSA) portfolio with the acquisition of a £135m (€162m) London scheme.
Construction is already under way and the development of the 500-room N16 Stratford project in East London is expected to be ready for students in the 2028/29 academic year.
The development will be led by HG Living alongside HG Construction as the main contractor.
Alex Greaves, head of UK residential, M&G Real Estate, said: “N16 Stratford is an excellent addition to M&G’s significant student accommodation portfolio and addresses the acute need for quality accommodation in London for talented students to study, develop career paths and relax.
“We are excited about the opportunities it presents alongside the potential for attractive returns in a market that has consistently shown resilience and growth. We look forward to a long and fruitful partnership with HG Living.”
Craig McPhail, director, HG Living, said: “We are delighted to partner with M&G Real Estate on N16 Stratford. Their expertise and strategic vision align perfectly with our commitment to delivering sustainable, high-quality accommodation with strong sustainability credentials in a key undersupplied student market.
“I thank everyone involved for their contribution and commitment in making this partnership possible and we look forward to working together to deliver another best-in-class PBSA asset.”
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