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Arlington / CLV

Portfolio Acquisition

15th March 2016

DWPF provided financial advice to Arlington and CLV in relation to the acquisition of seven student accommodation properties in Birmingham, Cheltenham, Exeter and Gloucester totalling 1,450 beds, together with a construction site in Birmingham.

 

This site in Birmingham, has planning consent for the delivery of a 492-bed development which will be built and is expected to be completed in time for the start of the 2018/19 academic year.

 

Funding for the transaction was arranged through a listed bond which was privately placed with clients of Legal & General Investment Management (LGIM).

 

The acquisition is the third for which DWPF has provided financial advice to Arlington/CLV.  These three properties total 7,000 beds and investment of £450m.  The first two were a £245m acquisition of more than 4,500 beds from the receiver for Opal Student Property Group in February 2014 and a further 400 beds from Goldsmiths, University of London in September 2015.