Blackstone Backed by iQ Student in Acquiring Two PBSAs in the UK

Two of the renowned names in the student housing industry, iQ Student Accommodation and Blackstone, have announced a collaborative acquisition of two PBSA assets from well-known student accommodation provider Downing Students which involved a transaction of £370M. iQ Student Accommodation, a famous accommodation provider, and Blackstone, an alternative asset manager, have acquired these two student properties in the lively neighbourhood of the UK in the vibrant cities of London and Edinburgh. These properties include the 841-bed Vega, which is located in London and the 324-bed The Mont located in Edinburgh.

The CEO of iQ Student Accommodation, Matt Merrick, has stated that the venture is delighted to have this new addition added to its portfolio. These properties are very well-located in two of the top cities of the UK and are home to some of the most renowned universities in the world. This leads to a growing student population witnessing a lack of equilibrium between the supply and demand of student accommodation in these regions. He also stated, “As part of their ongoing investment in Russell Group areas with the fastest rates of student growth, iQ and Blackstone are building on their recent acquisitions in Glasgow, Nottingham, and Warwick. We are excited to welcome students and provide them the wonderful housing experience that iQ offers for the 2023–2024 academic year.”

With the systematically laid transport system in the UK, it is easy to transit around anywhere across the cities without much hassle. Although, with the prime location in Vauxhall, Vega makes it extremely convenient for the students to transit across to their universities through the London City Centre. This London student accommodation provides world-class amenities, including gym facilities, a private dining area, a sky lounge, and a spacious roof terrace. 

According to the recent UK student accommodation news, The Mont, which is also acquired as one of the UK PBSA by the two student housing giants, is a fresh property which opened in September 2023. One of the important features of this property is close proximity to the University of Edinburgh and the Edinburgh city centre. The student accommodation is fully equipped with top-class amenities such as a cinema room, dining area, gym, and resident’s lounge.

Samir Amichi, Head of Real Estate Acquisitions Europe for Blackstone, says,” London and Edinburgh being the most student-populated cities in the entire UK, this acquisition decision was easy to make. The cities are home to some of the top educational institutions around the world. We are extremely proud and thrilled to have partnered with Downing Students on this deal. Along with iQ student accommodation and its growing portfolio in the student housing market, the addition of Vega and The Mont will only add to the top-notch offering of student accommodation in the UK.”

What is notable about this investment is that London is now considered to be one of the best student cities in the world. Being home to the best education institutions in the world, this partnership will go a long way with the growing demand for student accommodation in the city. Additionally, The University of Edinburgh is one of the most renowned universities in the UK, it is a growing preference among international students, making suitable student accommodation in Edinburgh a primary choice for them.