Heitman is acquiring three UK student housing assets for approximately £70 million in an off-market transaction with London-based developer Alumno Group.
One asset is already operational and fully-occupied, the other two are forward-funded developments.
Alumno Falmer is a 71-bed student housing facility close to the University of Sussex and University of Brighton. Alumno Lewes is a 60-bed student housing development located between the University of Brighton’s city and Moulsecoomb campuses.
Alumno Leeds will be a 411-bed facility located near both the University of Leeds and Leeds Beckett University.
“Despite COVID-19, purpose-built student accommodations remain in demand and has experienced steady occupancy gains each year since 2020 and we expect that trend to continue as students seek greater convenience and higher quality of life,” said Heitman’s managing director of European Real Estate Investment Caleb Mercer.