Activum SG and the Mansion Group have acquired The Collection Portfolio from 90 North, with the deal brokered by Harris Associates.
The purpose-built student accommodation (PBSA) portfolio, which totals 795 bedrooms, is located across five key markets. It includes Goods Corner in Edinburgh, Exeter One in Exeter, City Heights in Cardiff, The Union in Leamington Spa and Dover Street in Leicester.
The assets – built between 2014 and 2021 – have been sold with value-add potential, including the opportunity to enhance the amenity spaces, adapt room configurations, and in some cases add beds – subject to consent.
The first and second-generation portfolio of assets attracted new entrant Activum SG, who has raised €3bn since its inception in 2007 – with seven funds and over 85 investments.
With the support of Mansion Group, the acquisition represents Activum SG’s first entrance into the UK PBSA sector, using the opportunity to reposition and refurbish the assets, while integrating Mansion Group’s operator and asset manager.
“We are delighted to have sourced Activum SG and Mansion Group as they kick-start their new PBSA strategy via executing this statement transaction.
“The robust disposal of this 795-bedroom portfolio, on behalf of our clients 90 North, is a testament to the strength of the sector, as capital continues to return. Harris Associates continue to introduce new capital into the PBSA market via our extensive global relationships.”
Jamie Harris, Head of Student Accommodation Capital Markets, Harris Associates
Harris Associates marketed the opportunity via an extensive campaign, using it’s in-house marketing agency Harris Studios. The investor collaterals showcased not only the financials, but also a range of educational videos to appeal to global funds – placing the student experience at the core.
This included ‘Day in the Life’ videos of students in each asset – demonstrating to investors where residents live and study, on top of an interactive website and a cinematic video featuring a fund manager and analyst discussing the benefits of investing in The Collection portfolio.
Harris Associates has also recently sold a plethora of high-profile transactions for blue-chip clients, including Shore Station in Edinburgh on behalf of HUB and Bridges Fund Management (632 bedsrooms), Rockingham Street in Zone 1 London (244 bedrooms) and now the Collection Portfolio – with several new projects set to launch in September and October.
