Brookfield Asset Management and Student Homes Management acquire Condor Properties

Brookfield Asset Management, a global alternative asset manager, and Student Homes Management (‘SHM’), a UK co-living investor with over 2,000 beds under management, have acquired a 997 bed UK-based student housing portfolio.

The acquisition of Condor Properties, an owner-operator specialising in student houses in multiple occupation (HMOs), represents Brookfield’s first foray into UK student HMO housing, having previously held a substantial purpose built student accommodation portfolio in the UK; for SHM, the acquisition adds significantly to their existing portfolio and widens their national presence within the student accommodation sector.

The joint venture between Brookfield and SHM has appointed Loc8me to manage the portfolio across its six university cities, including Exeter, Liverpool and Cardiff.

The acquisition is the largest student HMO deal in recent memory, coming hot on the heels of the Renters’ Rights Act, which received royal assent on 27th October. The sale of the HMO portfolio to Brookfield and SHM signals the beginning of a predicted shift towards institutional landlords within the rental sector as smaller portfolio landlords grapple with the changing regulatory landscape.