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Arlington Advisors JV buys 2 UK student accommodation portfolios for £280M

Arlington Advisors paid a total of £280 million to acquire two separate portfolios of purpose-built student accommodation in the U.K. on behalf of Arlington Investors Ltd.

The purchase, which is part of a joint venture with Equitix, adds 2,458 beds across five assets to Arlington's management. Four of the assets, with 1,857 beds, are part of the Stellar Portfolio, which was acquired from student accommodation company Fusion Students Ltd. Located in Newcastle, Nottingham, Cardiff and Bristol, the Stellar Portfolio is run by Collegiate AC.

Arlington separately acquired the 601-bed Merlin Heights building in Leicester from a private investor. That property is operated by Fresh Student Living.

Arlington secured £200 million of senior debt with a 44-year term from an unnamed institutional investor to finance the deal.

Knight Frank's Student Property team represented Fusion Students, while Arlington and Equitix were jointly advised by Osborne Clarke, McGuireWoods, Grant Thornton and TradeRisks.