Following the recent announcement of the sale of Vita Group’s Vita Student Lewisham Exchange to AXA IM Alts, the deal marks the investment managers first purpose-built student accommodation (PBSA) acquisition in London, on behalf of clients.
The deal leverages AXA IM Alts’ deep-seated residential expertise and local market knowledge, with the business managing over €25bn of residential assets globally, including over €3.5bn of student accommodation assets, spread across eight countries.
The acquisition of the highly sustainable student accommodation scheme is in line with AXA IM Alts’ global sustainability strategy, as the building is targeting a BREEAM Excellent certification and is EPC rated A. ESG is also fully integrated into the investment decision making processes, with AXA IM Alts’ responsible investment approach anchored by three key pillars: decarbonisation, resilience and building tomorrow.
“We have a high conviction in the UK PBSA sector, reflecting its structural and demographic drivers, as well as countercyclical characteristics, with the latter in particular borne out during the recent periods of economic disruption. Partnering with a leading UK operator, this is a best-in-class scheme with a diverse mix of domestic and international students, in a well-connected location in what is one of the world’s leading higher education clusters.
“Furthermore, its environmental credentials are aligned with our strong belief in the importance of both minimising a building’s carbon footprint and the tenant wellbeing offering when considering all our real estate investments.”Stuart Carr-Jones, Head of UK, Ireland & Emerging Europe Transactions, AXA IM Alts
AXA IM Alts is a global leader in alternative investments with c. €184bn of assets under management comprising c.€88bn of primarily private real estate, over €85bn of private debt and alternative credit, and over €11bn in Infrastructure, private equity and hedge funds.
AXA Investment Managers (AXA IM) is a responsible asset manager, actively investing for the long-term to help its clients, its people and the world to prosper. Its high conviction approach enables the business to uncover what it believes to be the best global investment opportunities across alternative and traditional asset classes, managing approximately €823bn in assets as at the end of June 2022. AXA IM’s goal is to provide clients with a true value responsible investment solution, while driving meaningful change for society and the environment.
AXA IM is also a leading investor in green, social and sustainable markets. It manages €563bn of ESG-integrated, sustainable and impact assets as at the end of December 2021. We are committed to reaching net zero greenhouse gas emissions by 2050 across all our assets, and integrating ESG principles into our business, from stock selection to our corporate actions and culture. Our goal is to provide clients with a true value responsible investment solution, while driving meaningful change for society and the environment.