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UNIVA Investing £10m in UK PBSA

Posted by Richard Ward in ,

Image courtesy of Flickr, Creative Commons

UNIVA, a Turkish provider of purpose-built student accommodation (PBSA), has invested £10 million into the UK-based Opto Living.

The deal was finalised in February 2020 and will lead to the acquisition of 140 studios in Cardiff city centre.

Opto Property Group will develop the scheme, whilst Opto Living will manage the residences under the newly created brand of UNIVA & Opto Cardiff.

Commenting on the deal, UNIVA chairman, Riza Erkanli, said: "We're delighted to have invested with Opto Living to deliver a new standard of accommodation to those studying in Cardiff."

"With this partnership between our like-minded and forward-looking organisations, we will deliver exceptional student living at competitive prices."

"Quite simply, students will find that there will be no better place to live in Cardiff."

The accommodation will come equipped with leisure facilities including a basketball court, tennis court, games room, clubhouse, spa treatment room and wellness salon.

The scheme has been designed around the concept of 'Collective Living' and has been developed in close consultation with Cardiff City Council.

UNIVA is Turkey's first and largest PBSA provider and already operates 4,911 beds spaces, with plans to increase this to 10,000.

The company is planning to invest additional funds into the UK student market, along with building up stakes in the German and Spanish markets.