Lone Star Funds has announced that affiliate of Lone Star Real Estate Fund VII, L.P. has reached an agreement to purchase nine purpose-built student accommodation (PBSA) assets in the UK from affiliates of Unite Students for £212m.
The portfolio comprises 3,656 beds across nine high-quality PBSA assets in five well-located university markets: Aberdeen, Leicester, Leeds, Nottingham and Sheffield.
This acquisition marks Lone Star’s second transaction with Unite in the past three years and further expands the firm’s presence in the UK student housing sector.
With this latest investment, Lone Star Fund’s PBSA portfolio now exceeds 10,000 beds in the market, offering enhanced scale and geographic diversification across top-tier university locations.
Jérôme Foulon, global head of commercial real estate for Lone Star, said: “This transaction aligns with Lone Star’s global strategy of investing in resilient sectors of the housing market where we can leverage our expertise to unlock long-term value.
“We continue to see attractive opportunities in the UK’s PBSA sector, which benefits from the growing student population demand and a continued shortage of high-quality accommodation.”
