Asset Management (UBS-AM) Real Estate & Private Markets has bought a 拢59.8m (鈧�69.6m) student accommodation asset in Nottingham on behalf of its UK core real estate strategy.
UBS-AM REPM said the property was purchased from Tosca Mill 1, backed by Toscafund via its investment in Mabec Property.
Oliver Abram, portfolio manager at UBS-AM, said: 鈥淭his transaction supports a key focus area for our UK core real estate strategy which is to target income accretive assets within the student accommodation sector, offering an opportunity for further capital growth.
鈥漈he acquisition complements the strategy鈥檚 current PBSA holdings, where we have achieved consistently high occupancy levels, providing strong income returns as the sector stabilizes post-pandemic.鈥�
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