CVC DIF, the infrastructure strategy of leading global private markets manager CVC, has announced a strategic acquisition for its student accommodation platform, Ottoway Portfolio Holdings (Ottoway). The company has acquired two purpose-built student accommodation (PBSA) assets – Beaverbank Place and Firhill Court – from Mapletree Global Student Accommodation Private Trust. Ryden advised Mapletree on the transaction.
The assets will be added to the existing Ottoway platform, a DIF Infrastructure VI investment, which already includes a portfolio of eight student accommodation assets in the UK.
The newly acquired assets are ideally located in popular university cities with strong supply-demand imbalance and are backed by nomination agreements with top universities. Beaverbank Place in Edinburgh and Firhill Court in Glasgow will add around 750 bedrooms to Ottoway’s portfolio which now totals over 5,000 bedrooms. Both assets benefit from high occupancy rates.
“The acquisition of Beaverbank Place and Firhill Court is a significant step in our value creation strategy for the Ottoway platform. By expanding and diversifying our Ottoway portfolio, we are better positioned to address the evolving needs of the student accommodation sector. This acquisition underscores our commitment to providing high-quality living arrangements for students and supporting the educational landscape”.
Gijs Voskuyl, Managing Partner, CVC DIF
Backed by long-term demographic tailwinds, Ottoway is focused on delivering student-centric accommodation in thriving academic centres. The platform is actively pursuing further growth opportunities to continue partnering with leading universities across the UK and meet accelerating demand in this resilient sector.
