MCR Property Group has acquired a portfolio of purpose-built student accommodation (PBSA) from Arlington Advisors for an undisclosed price.
The portfolio comprises 1,013 beds across five city centre assets – Corporation Village, Burges House, Pillar Box and Market Way in Coventry, and Clarendon Street in Nottingham.
The acquisition supports MCR’s long-term growth strategy in the PBSA sector and brings its total student bed count to 2,700+ across the UK. The company said it expected to complete a number of further PBSA acquisitions in the coming weeks.
MCR is currently developing a new dedicated PBSA brand platform, which it intends to launch later this year.
Nick Lake, fund director at MCR Property Group, said: “We see a compelling opportunity in the PBSA market, driven by undersupply and strong rental performance in key university cities. Our history as a fast-moving, value-led investor gives us the confidence and capability to scale quickly and deliver impact.
“This acquisition is a significant step in the expansion of our student living platform, and we look forward to continuing that momentum in the months ahead. We would like to thank the Collegiate team for their professionalism and collaboration throughout this process.”
