Ares, Generation Land UK Student Housing Assets For $222M

Law360 (February 24, 2021, 2:31 PM EST) -- Alternative investment managers Ares and Generation said Wednesday they dropped £157.5 million (about $222.3 million) to buy two British student housing properties as part of a new investment strategy.

Ares Management Corp. and Generation Partners LLP said in a news release that the two assets they scooped up feature a combined 1,359 beds and are located in the English city of Exeter and Welsh capital city, Cardiff. The firms added that they purchased the properties as part of a new residential investment initiative focused on United Kingdom student accommodations, even while many universities have taken classes online amid the coronavirus pandemic....

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