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Nottingham PBSA Purchased for £59.8m by UBS

Posted by Calum Martin in , ,

A student accommodation asset in Nottingham has been purchased by UBS Asset Management Real Estate & Private Markets in a deal worth £59.8m.

The development, which provides 483 students beds across its 340 dwellings was purchased from the Toscafund-backed group Tosca Mill 1 via its investment in Mabec Property.

Nottingham boasts one of the largest student populations in the UK, with over 70,000 students enrolled across its universities.

Oliver Abram, portfolio manager at UBS-AM, commented: "This transaction supports a key focus area for our UK core real estate strategy which is to target income accretive assets within the student accommodation sector, offering an opportunity for further capital growth.

"The acquisition complements the strategy's current PBSA holdings, where we have achieved consistently high occupancy levels, providing strong income returns as the sector stabilizes post-pandemic."