Student Castle portfolio disposal to CPPIB Liberty Living
International legal practice, Osborne Clarke has advised long-standing client Student Castle on the disposal of a £330 million student accommodation portfolio announced today. The disposal comprises some 2,153 beds across five student accommodation schemes in the UK and has been sold to CPPIB Liberty Living, a wholly owned business of Canada Pension Plan Investment Board (CPPIB).
Student Castle was established five years ago by Edward Cade and Jacqui Hawthorn as a high quality student accommodation developer and operator across the UK. Student Castle is backed by Sir Charles Dunstone and Roger Taylor, Chairman and Deputy Chairman respectively of the Dixons Carphone Group.
The five schemes involved are the Student Castle buildings at Leman Street, in London; Great Marlborough Street in Manchester; Melbourne Street in Newcastle; Park Place in Bristol; and Adam Street in Cardiff …