Moda has entered into a joint venture with Aermont Capital to extensively expand into purpose-built student accommodation (PBSA) space.
The strategic partnership marks a significant expansion into the PBSA sector for Moda, who to date has focused on Build to Rent, single-family and co-living developments. Now, backed by Aermont Capital’s private equity, the joint venture is aiming to develop a PBSA portfolio of over £1bn across the UK.
The partnership signals strong investor confidence in Moda’s expansion strategy. The focus will be on both subject-to-planning as well as consented sites in London and strategic regional hubs, particularly those with access to key Russell Group universities.
The joint venture will launch with a site at Moda’s Soyo development in Leeds, which already has planning permission for over 600 PBSA bedrooms.
Moda’s developments will feature extensive amenities such as lounges, rooftop terraces, green spaces, fitness and wellness spaces, study rooms, private dining and event spaces – creating a balance between work, study and play.
Mirroring Moda’s focus in other living sectors, the company’s PBSA platform will be prioritising student wellbeing, overall experience and ESG standards. Moda first announced the launch of its wellbeing focused PBSA platform in 2023, with the aim of becoming the market leader for wellbeing and experience in the UK.
This joint venture forms part of Moda’s broader £2bn living platform, which includes an additional £1.1bn of homes currently under construction. For Aermont, this joint venture marks its second UK operational partnership in recent years.
While there’s no formal deployment target yet, Aermont Capital has highlighted the UK’s supply and demand imbalance in student housing as a key investment opportunity, backing the initiative with substantial equity commitment.
