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Mapletree Acquires Vita Schemes

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Mapletree has acquired four student accommodation assets from Vita Group for $227m.

Singapore's Mapletree Investments has snapped up the four purpose-built student accommodation (PBSA) schemes for £165 million.

Consisting of 917 beds, the properties are in Nottingham, Leeds, Exeter and Bristol. The sites will be managed by Vita Student.

According to the deputy CEO of Mapletree, Chua Tiow Chye, high vaccination rates and strong student enrolment figures in Britain have boosted the pre-leasing of student beds for the upcoming academic year.

He added: "Mapletree will continue to expand its global footprint in this asset class for its attractive long-term growth prospects supported by strong fundamentals of domestic and international students."

The acquisition brings Mapletree's student accommodation portfolio to 55 assets containing more than 23,0000 beds across 37 cities in the UK, US and Canada.