Canada Pension Plan Investment Board has entered the UK student accommodation market with the £1.1bn purchase of the Liberty Living platform and portfolio.
The management platform Liberty Living Management Two will also be acquired from the Brandeaux Student Accommodation Fund.
Liberty Living has over 40 residences across 17 towns and cities, covering 16,700 rooms.
CPPIB head of real estate investments, Andrea Orlandi, said: “As a long-term investor, this is an exciting investment for CPPIB and an ideal platform through which we can build further scale, capitalising on Liberty Living’s position as one of the leading operators in the U.K. student accommodation sector.”
Macquarie Capital acted as sole financial advisor to CPPIB.
