Singapore's Mapletree Investments has acquired 31 student housing assets in the UK and Germany from Cuscaden Peak Investments for £1 bn (€1.2 bn).
The addition of 8,192 operational beds across 19 UK and German cities, boosts Mapletree's UK portfolio to over 17,000 beds.
The acquired portfolio boasts properties with excellent amenities and convenient access to universities in key UK cities (Bristol, Cambridge, Durham, Edinburgh, Oxford, York) and Bremen, Germany.
The acquisition includes an operating platform managing two brands (Student Castle & Capitol Students), allowing Mapletree to directly manage the newly acquired properties. In 2023, the operating platform secured the coveted Global Student Living Platinum certification, the highest honour in the student housing industry.
Hiew Yoon Khong, Group CEO of Mapletree, said: ‘The acquisition is part of Mapletree’s strategy to grow the student accommodation sector in the UK, the US, Europe and Australia, which remain underserved by quality student housing assets. The student housing sector is one of the Group’s core real estate focus areas due to its fundamental demand-supply imbalance and defensive characteristics.’
The newly acquired properties include Student Castle Oxford (515 beds), Student Castle Brighton (206 beds), Student Castle Durham, and Capitol Students Gorgie, Edinburgh.
