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Harris Associates Facilitates Off-Market Transaction

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Harris Associates has advised Lone Star on a £315m off-market deal that will see the private equity firm enter the student accommodation sector.

Lone Star has organised 21 funds with aggregate capital commitments of more than $85bn and has acquired 2,621 beds in Cardiff, Hatfield, Swansea and Sheffield. The deal represents the largest transaction this year with both Cardiff and Hatfield built and occupied, whilst Swansea and Sheffield are due to open later this year.

Harris Associates facilitated the off-market deal between Lone Star and the vendor, bringing the two sides together to create a sizeable portfolio.