Greystar acquires £291 million portfolio of UK student accommodations from Nido portfolio
Client(s) Greystar Real Estate Partners, LLC
Jones Day represented Greystar Real Estate Partners, LLC in the £291 million acquisition of five purpose-built student accommodation ("PBSA") assets from the Nido portfolio. The five assets comprise 2,163 units situated in four cities in the UK – London, Glasgow, Coventry and Bristol. Four of the assets are operational and let to students for the 2020/21 academic year, while the Bristol asset is under construction and due for occupancy in September 2021. The acquisition forms Greystar's second UK PBSA portfolio, alongside the premium London-focused brand Chapter. The acquisition was in part financed by debt finance provided by a global investment management firm.