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DFI Disposes of Canterbury Student Manor

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Deutsche Finance International (DFI) has sold Canterbury Student Manor in an off-market sale to a private investor.

The disposal is the first exit for DFI's inaugural fund (DFI EVAF), which closed in July this year with EUR 436 million of equity.

DFI has managed to assemble a portfolio of around EUR 1 billion that includes London's Olympia Exhibition Centre and which is diversified across five European markets.

Since purchasing the 386-bed Canterbury Student Manor in 2017, DFI has increased its occupancy level from 79% to 100%, helping to increase the property's income profile.

To achieve this, the company focused on new marketing initiatives, re-classifying rents, reducing operating cost leakage, and working closely with the property manager.

Gavin Neilan, Co-Founder and Co-Managing Partner at DFI, says: "To have sold this property two years ahead of our business plan, having already successfully repositioned it for long term investors, illustrates our capacity to actively create value in operational real estate and unlock the full potential of our portfolio. Additionally, the ability to acquire and dispose of this asset off-market, as well as undertaking all asset management activity in house, demonstrates the strength of our outstanding team."