Campus Living Villages acquires 4,539 UK beds

16 April, 2014

Global student accommodation provider Campus Living Villages (CLV) has confirmed the acquisition of 4,539 beds across the UK. 

The purchase of beds that were formally part of the Opal Student Property Group, made by CLV together with Arlington Investors, more than doubles the number of student rooms in the UK under CLV management from 3,821 to 8,630. The acquisition was funded through a UK£210 million (US$351 million)-listed bond with a 50-year maturity.

Gary Clarke, CLV UK Chief Executive, said, “The acquisition of these assets provides CLV with operational scale in a key global market, and takes its platform across the USA, UK, Australia and New Zealand to over 40,000 beds. Whilst several of these newly acquired assets are not physically on campus, they all have in common strong links to university partners and the opportunity to strengthen these partnerships through collaboration and commitment to student experience.”

Commenting on potential within the student housing market in the UK, George Shweiry, Chief Executive of Arlington Advisors, said, “The dynamics of the UK student housing sector present a compelling story, where we are seeing a shortage of good-quality stock, falling development pipeline and a growing demand. Taken in the context of what is happening around the world in emerging markets, we expect to see a significant increase in international student mobility, which is only going to drive up demand further.”

With the acquisitions, CLV UK now offers student accommodation in Birmingham, Bournemouth, Leeds, Liverpool, London, Luton, Newport, Nottingham and Salford.

CLV UK was featured in an article on university accommodation for international students in the April 2014 issue of Study Travel Magazine, and has around 40-to-50 per cent international occupancy at its UK on-campus villages.

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