Student accommodation provider The Dot Group has completed its acquisition of CRM Students and its subsidiaries in the UK and Europe from CORESTATE Capital Holdings.
The deal, which was announced last year, will see The Dot Group become one of Europe’s largest student housing providers, with a portfolio of 80,000 beds.
The acquisition extends The Dot Group’s global footprint into four new European markets (Austria, Italy, Poland and Portugal), embeds the company’s continued growth in Germany and Spain, and significantly expands its UK presence.
CRM Students and its subsidiaries will become part of the broader The Dot Group, operating as a white-label solution alongside Yugo – the global student branded operator.
Nicholas Porter, CEO of The Dot Group, said: “Our strategic focus is to create the world’s leading branded operating company in student living. We are delighted to welcome CRM Students to the group and with our global platform Yugo. The transaction supports our strategic expansion into existing and key new markets, allowing us to embed our expertise across Europe to deliver performance and efficiency for investors in the student housing sector.
“We continue to invest in more opportunities, technology and, most importantly, our teams around the world. We are forging new relationships and look forward to providing an enhanced offering to key stakeholders, investors, banks, universities and vitally student customers through their educational journey.”
Richard Skeels, CEO of CRM Students, added: “This is a fantastic opportunity for CRM Students, as we look forward to joining The Dot Group, a truly global pioneer across student living. On closing this transaction, it is clear our teams are strategically aligned with our customers and stakeholders benefiting from greater access and experience as CRM Students continues its growth journey.”
