Activum SG and Mansion Group have acquired a portfolio of purpose-built student accommodation (PBSA) assets from 90 North for an undisclosed price.
The Collection Portfolio provides 795 beds across first and second generation PBSA assets in Edinburgh, Exeter, Cardiff, Leamington Spa and Leicester.
Activum SG intends to reposition and refurbish the assets with Mansion Group acting as operator and asset manager.
Jamie Harris, head of student accommodation capital markets at Harris Associates, which marketed the portfolio on behalf of 90 North, said: “We are delighted to have sourced Activum SG and Mansion Group as they kick-start their new PBSA strategy via executing this statement transaction.
“The robust disposal of this 795-bed portfolio, on behalf of our clients 90 North, is a testament to the strength of the sector, as capital continues to return. Harris Associates continue to introduce new capital into the PBSA market via our extensive global relationships”
