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Hines Global Income Trust pays £72M for UK student accommodation asset

Hines Global Income Trust Inc. purchased a 607-bed student accommodation property in Glasgow, U.K., for £72 million.

The fully leased property on Kelvinhaugh Street, called true Glasgow West End, was bought from London-based property developer Bricks Capital.

The site will be managed by aparto, Hines' student accommodation platform, and will be rebranded as aparto Glasgow.

Hines said it is looking to increase its presence in the purpose-built student accommodation market through new developments and acquisitions.