Investment Management has bought two UK student accommodation assets for funds.
The investment manager said it had invested 拢81.3m (鈧�110.7m) in the separate, off-market transactions.
The deals, in Birmingham and London, reflected respective yields of 5.4% and 5.8%. The former, a 215,000sqft project, is due for completion in August next year.
John Yeend, director at LaSalle, said the properties, bought for 拢43.6m and 拢37.5m, were aligned with its core-plus strategy.
鈥漈hese large, high quality assets are well-located both in terms of public transport and proximity to higher education institutions, so will appeal to students looking for high quality, comfortable and convenient housing,鈥� Yeend said.
鈥淭here is still strong pent-up occupier demand for student housing and we will continue to identify assets of this type during 2015 to add to our client鈥檚 portfolios.鈥�
LaSalle said it bought 11 student accommodation assets for funds last year for a combined 拢250m.
Triton Property Fund recently agreed to fund a new student scheme in Newcastle Upon Tyne for 拢16m.
