Tristan Capital Partners and Bricks Group have added a £110 million asset to their UK student housing investment partnership.
Tristan Capital, investing on behalf of the core-plus CCP 5 Fund, said the partnership has acquired a 999-bed purpose-built student accommodation (PBSA) asset in Liverpool from Aura Investors.
The latest deal expands the joint venture’s PBSA portfolio to over 2,100 beds located in Birmingham, Manchester/Salford, Glasgow, and now Liverpool – all managed by Bricks Group’s True Student platform.
Kristian Smyth, managing director at Tristan Capital Partners, said: “The underlying quality of the asset coupled with the growing demand from both domestic and international students in Liverpool made this a compelling addition to our UK PBSA strategy.
“We are focused on investing in both operating assets and de-risked developments across the UK with an objective to create a £750 million plus platform in the short to medium term.”
Peter Prickett, founder and CEO of Bricks Group, said: “It’s testament to the strength of the partnership that we’ve quickly secured our largest PBSA asset in the internationally renowned city of Liverpool. And this is just the beginning for our joint venture and its mission to scale the true student brand at pace.”
Source: realassets.ipe.com on the 22th of September 2022
https://realassets.ipe.com/news/tristan-bricks-uk-student-housing-jv-adds-110m-asset-in-liverpool/10062242.article