UBS Asset Management (UBS-AM) Real Estate & Private Markets has bought a £59.8m (€69.6m) student accommodation asset in Nottingham on behalf of its UK core real estate strategy.

UBS-AM REPM said the property was purchased from Tosca Mill 1, backed by Toscafund via its investment in Mabec Property.

Oliver Abram, portfolio manager at UBS-AM, said: “This transaction supports a key focus area for our UK core real estate strategy which is to target income accretive assets within the student accommodation sector, offering an opportunity for further capital growth.

”The acquisition complements the strategy’s current PBSA holdings, where we have achieved consistently high occupancy levels, providing strong income returns as the sector stabilizes post-pandemic.”

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