Mapletree acquire 31 PBSA schemes across the UK and Germany

Mapletree Investments, a real estate investment, development, and property management company headquartered in Singapore, has made a significant move by acquiring 8,192 operational beds in 19 cities across the UK and Germany. Additionally, they've acquired an operating platform from Cuscaden Peak Investments.

The acquired portfolio consists of various student accommodation schemes, strategically located in key university cities such as Bristol, Cambridge, Durham, Edinburgh, Oxford, and York in the UK, as well as Bremen in Germany.

Managing two renowned brands, Student Castle and Capitol Students, the operating platform now provides Mapletree with direct control over the acquired portfolio.

Having ventured into the student housing market in 2016, Mapletree has expanded its student housing portfolio significantly, now encompassing a total of 33,000 beds spread across 47 cities in the UK, the US, Germany, and Canada. This expansion translates to total assets under management amounting to $6.2 billion.

The company has revealed that it aims to capitalise on its development prowess by engaging in both greenfield and brownfield development initiatives to further expand its student housing portfolio.

"The acquisition is part of Mapletree's strategy to grow the student accommodation sector in the UK, the US, Europe and Australia, which remain underserved by quality student housing assets.

"The student housing sector is one of the Group's core real estate focus areas due to its fundamental demand-supply imbalance and defensive characteristics. We will capitalise on the newly acquired operating platform to support our strategic vision of growing as well as enhancing our operational performance in the UK."

Hiew Yoon Khong, Group Chief Executive Officer, Mapletree