TPG Angelo Gordon and developer Hollybrook have entered into a joint venture aiming to invest £200m into the UK purpose-built student accommodation (PBSA) sector.
The partnership has been seeded with a 271-bedroom PBSA development in Wimbledon, south-west London, with more deals in the pipeline. Hollybrook started construction at the Wimbledon scheme last summer and completion is expected in time for the 2026/27 academic year.
“We are delighted to be working with such a well-respected partner in TPG Angelo Gordon and look forward to acquiring a significant number of PBSA development sites within the next couple of years.
“We see significant demand from students for PBSA and we are delighted that TPG Angelo Gordon share our vision and investing alongside us in this sector.”
Valerie Cox, Director, Hollybrook
The goal for 2025 is to secure planning permission for 1,000 PBSA beds, with a 300-bedroom scheme in London likely to be the next acquisition deal for the joint venture. Over the next three years, the plan is to acquire and develop 2,000 PBSA beds.
TPG Angelo Gordon and Hollybrook’s partnership is focused on supply-constrained, multi-university student markets with strong demand fundamentals and burgeoning student population numbers.
“We are excited to close the first in a series of transactions with out new student accommodation partner, Hollybrook.
“This transaction exemplified our strategy of targeting supply-constrained student locations in the UK providing beds for both domestic and international demand.”
John Parsons, VP, TPG Angelo Gordon
