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We Are Kin Set for Expansion

Posted by Richard Ward in

Image courtesy of Flickr, (View licence)

We Are Kin, the HMO focused student accommodation provider, has joined forces with Moorfield Group to build a 1,000-bed portfolio as it aims to raise standards in the sector.

The £50m partnership will see Moorfield Group's Moorfield Real Estate Fund IV inject £20m into the business. A further £30m in senior debt will enable the operator to acquire around 200 five to eight-bed properties in target locations such as Liverpool, Lincoln and Lancaster.

The company has indicated that it is not necessarily tied to Russell Group universities and will consider locations they expect to climb in the rankings over the coming years.

Commenting on the opportunity, Ross Netherway, head of origination at Moorfield Group, said: "Despite the disruption caused by Covid-19, we remain focused on the student accommodation sector and are confident that student numbers will grow over the next decade."

"This partnership presents an opportunity for us to diversify our exposure in the sector, as part of our ongoing 'beds' investment strategy, and enables us to accelerate the professionalisation of a significant yet overlooked area of the market."

"We identified the student shared living sector as an attractive opportunity and we are excited to be partnering with We Are Kin and Young."