L&G expands PBSA strategy with The Place acquisition
L&G has announced the acquisition of The Place, Nottingham, on behalf of L&G’s Institutional Retirement business to bolster its Student Living portfolio. L&G was advised by Macfarlanes, Cast advising on technical due diligence, EY on corporate due diligence and MTRE as acting agent. CBRE was selling agent, acting for the developer MRP on this deal.
The prime purpose-built student accommodation (PBSA) consists of 409 beds located to the south of Nottingham city centre and 0.6 miles from the University of Nottingham’s new Castle Meadow Campus.
The PBSA scheme, developed by MRP and constructed by McAleer & Rushe, completed in August 2024 and is currently in its first operational academic year …