DWS, a Deutsche Bank real estate subsidiary, has announced that a six hundred million pound (GBP 600 million) student housing portfolio will be launched in the United Kingdom.
The real estate portfolio manager has agreed to buy Vita Student assets, which was developed by the Vita Group with the purpose of funding and creating student housing across the country.
Some of the central locations of the Vita Student assets portfolio include Manchester, Leeds, Glasgow, and Newcastle. The six hundred million deal will create more than three hundred beds (3,198) for students in British higher education.
According to a DWS spokesperson, this will be an excellent opportunity for the asset manager to expand its European portfolio and balance out company investments.
Student housing in the United Kingdom
The United Kingdom is one of the largest student hubs in Europe. While Brexit poses some concerns about international students entering higher education in the country, there is still a large number of students who need to use university-provided accommodation.
Vita Student is one of the largest student accommodation providers in the country, with more than nineteen (19) facilities across the UK. These facilities offer student housing to more than five thousand (5,760) students in the country.
Student housing is an essential factor for applicants, as many local and international students have to use these facilities. According to DWS representatives, the company expects an increase in the number of students accepted in higher education in the country, which is why this was the next logical investment step.