A Bath purpose-built student accommodation (PBSA) asset has been sold by Curlew Student Trust II to KKR, the global investment firm, in a deal backed by CBRE Investment Management.
Centurion House on North Parade Road was sold as part of a £230 million portfolio that also includes assets in London, Leeds, Sheffield, Brighton, Coventry and Norwich.
The 146-bed scheme was built in January 2022 and is currently managed by Host Student Housing.
According to the University of Bath, an ensuite room in Centurion House costs between £228 and £279 per week and a studio costs between £342 and £357.
Inhabeo, KKR Real Estate’s living sector platform in Europe, will act as the asset manager for the newly acquired 2,179 bed portfolio.
Seb d’Avanzo, head of real estate acquisitions for KKR in Europe, said: “We are pleased to add a UK PBSA portfolio of rare scale and calibre to our portfolio, underscoring our conviction in high-quality living spaces within our Core+ strategy in Europe.”
Savills advised Curlew Student Trust on the sale.
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