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Report: 4 in the running for £850M UK student accommodation portfolio

LetterOne could raise between £820 million and £850 million from the sale of its portfolio of 11 student accommodation buildings in the U.K., Property Week reported.

According to the Dec. 14 report, the portfolio has attracted the attention of Urbanest, IQ, Greystar and a joint venture between Europa Capital and Generation Estates, all four of which are in the second round of bidding for the properties. A source quoted by the publication, however, said Greystar is considering pulling out its bid.

The portfolio comprises approximately 3,700 beds in London, Bath, Brighton and Edinburgh.

All parties declined to comment, according to Property Week.