abrdn launches PBSA platform MYS Student Living

abrdn launches purpose-built student accommodation platform - MYS Student Living – as it expands its capabilities as one of the largest residential fund managers in Europe.

Part of Manchester University Campus. abrdn launches PBSA platform MYS Student Living | PBSA News
Part of Manchester University Campus. Image credit: citysuitesimages, CC BY 2.0 via Wikimedia Commons.

abrdn launches purpose-built student accommodation (PBSA) platform MYS Student Living. This is a natural evolution as abrdn further expands its capabilities as one of the largest residential fund managers in Europe, with over 200 residential properties across 11 countries.

MYS Student Living, a joint venture with David Mathewson and Murdo Mcilhagger, will aim to address the UK and Europe’s student housing shortage and support the growing university age population, which, they believe, is impacted by the limited supply of quality, sustainable accommodation.

MYS Student Living aims to provide a differentiated experience for students, universities and investors by offering a values-led proposition with strong ESG credentials and maximising the customer experience. It will provide energy efficient buildings with decarbonised heat and reduced embodied carbon, using only renewable energy, with the aim of working with students to reduce their energy consumption.

abrdn believes it is possible to make value-led business decisions while providing sustainable returns to investors. MYS Student Living is a living wage employer and will also offer the free use of amenity space to local community groups, while maximising pastoral care and supporting future business leaders.  

To achieve B-Corp status, the new platform must demonstrate high social and environmental performance, make a legal commitment by changing the corporate governance structure to be accountable to all stakeholders and exhibit transparency, and allow performance to be measured and accessible on the B-Corp profile.

“PBSA investment solutions are an interesting and growing segment of the residential market offering income-driven returns and the ability to create a sustainable and values-led investment opportunity. In addition, well-run PBSA can achieve enhanced value from assets that are often under-managed. We’re excited to have MYS Student Living as an in-house provider of highest quality accommodation.”

Neil Slater, Head of Real Assets, abrdn

The expansion of abrdn’s living capability is intended to allow them to offer client-led solutions in the PBSA sector, delivering income along with the ability to create enhanced value from undermanaged assets. The platform has access to PBSA deal flow to ensure a comprehensive asset business plan.

“Creating the MYS Student Living platform with abrdn harnesses two levels of expertise. abrdn is one of the largest residential fund managers in Europe and MYS Student Living is a first mover in the new category of values-led student housing. Both abrdn and MYS Student Living are focused on delivering assets with best- in-class ESG credentials that fulfil the clear and growing needs of both students and universities. The ambition is to provide investors with strong and dependable returns while creating the user-friendly, sustainable, low-carbon student housing of the future.”

David Mathewson, joint Managing Director, MYS Student Living