SPH, with three wholly-owned subsidiaries, has added over 1,200 beds across its three properties in Southampton, Sheffield and Leeds for around $174 million.
Singapore Press Holdings Ltd. has expanded its student housing holdings in the U.K. with the acquisition of a portfolio spanning three cities with a total capacity of 1,243 beds for approximately $173.6 million. The transactions were made between SPH’s wholly-owned subsidiaries, Straits Five Pte. Ltd., Straits Six Pte. Ltd., and Straights Eight Pte. Ltd., and Habitus Holdings, Privilege Holdings, Privilege Southampton Holdings and AIGGRE Europe Real Estate Fund I GP.
SPH did not break out which assets were purchased from each firm, but the properties acquired are:
Southampton, Sheffield and Leeds have sizable full-time student populations and the portfolio has rent guarantees for the 2018-2019 and 2019-2020 academic years.
SPH recently added 380 beds in Lincoln and Glasgow which now gives the firm a student housing portfolio with more than 5,000 beds across 20 assets in 10 U.K. cities. With assets under management now surpassing $600 million, SPH is considered a leading player in the U.K.’s Purpose-Built Student Accommodation sector. The firm is also operating in Birmingham, Bristol, Huddersfield, London, and Plymouth.
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