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Location – National Portfolio | Service - Disposal
Price – Over £500 million
The Westbourne Portfolio comprises 12 best-in-class student housing assets providing 5,866 beds across ten well established university cities in the UK. The portfolio, which has been expertly managed by The Student Housing Company, has been 100% let for the core term since development/acquisition of each asset and approximately 40% of the rental income is underwritten by University Agreements.
Our client said “JLL were able to provide sector specific expertise and an extensive knowledge of capital markets. JLL managed the process successfully and efficiently from start to finish, with a high degree of professionalism and a dedicated team; by understanding the drivers for both seller and purchaser, they were able to deliver the transaction in the agreed timescale and to the satisfaction of all involved.”
Location – London | Service - Disposal
Price - £535 million
Pure Student Living comprises 2,170 rooms across five prime central London sites. Four of the assets, located at Highbury, Hammersmith, Bankside & City are fully operational while the fifth facility at Whitechapel (which delivers a further 417 rooms) completes in August 2015.
The transaction was a platform sale of the Pure Student Living business that manages the assets together with the real estate in the form of a purchase of the shares.
AUB UK Student Accommodation Fund Portfolio
Location – National | Service - Disposal
Price - £270 million
AUB comprises eight prime UK assets in London, Glasgow, Durham, York, Leeds, Birmingham and Oxford, totalling 2,000+ beds. The sale price equated to an IRR of 25% and an equity multiple to investors of 1.8 times.
As part of the newly created JLL Alternatives division, the JLL Student Housing & Higher Education team, working alongside Corporate Finance and Capital Markets, provides the full range of advice spanning the market including research, transactional, funding, valuation, operational consultancy, strategic planning and financial restructuring.The team is the largest and most experienced in the sector; over the last ten years the team have been involved in most of the major transactions in the market.