US investors buy into British student accommodation
Two separate US investors have bought student halls from Opal, the distressed student accommodation provider.
New-York based investment house Avenue Capital Group has acquired a portfolio of five Opal Student Accommodation companies, which own three student accommodation buildings, a private rental building and a land asset.The portfolio caters to 1,800 students based in Sheffield and Nottingham.
Property Week reported that Avenue paid between £80 million and £90 million. The sale process was undertaken by Savills.
The news follows the sale of another Opal portfolio to US student housing provider Greystar Real Estate Partners, in partnership with Goldman Sachs …