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Student Housing the Source of Mega Deal in the U.K.

London — Blackstone Group sells London portfolio of high-rise and boutique housing to Round Hill Capital. 

London — New York-based private equity manager Blackstone has sold its Nido Student Living business to Round Hill Capital for more than £400 million (approximately $618 million).

 

DLA Piper, a global law firm, represented Blackstone in the transaction. The deal, completed May 31, was funded through a consortium of senior and mezzanine providers and is the largest deal undertaken in the United Kingdom student sector to date, according to DLA Piper.

 

Nido Student Living first opened in 2007 with 1,045 beds in central London, and now provides housing to more than 2,500 students. The portfolio includes three locations around London: Notting Hill, King’s Cross and Spitalfields. Each is a large building – Spitalfields is 33 floors – with residence life programs that are influenced by those at American universities.

 

“The Nido Student Living brand has been built up to be the leading student accommodation provider in England, and Roundhill have secured a superb platform to build upon,” Says Jo Owen who led the DLA Piper team. “This deal underlines the fact that student accommodation is a thriving sector in its own right and one that excites investors from around the world.”

 

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