Homes for Students, the national student accommodation manager, has reached a milestone of 20,000 beds under management following its appointment to two new property schemes in Coventry.
The two assets, Callice Court and Millennium View, with 736 and 391 beds respectively, have been acquired by Mapletree Investments, a leading real estate company headquartered in Singapore. Mapletree currently owns 30 student accommodation assets across 15 cities in the United Kingdom.
Homes for Students now has over 85 property schemes in its management - in more than 30 UK towns and cities, under its Homes for Students and Prestige Student Living brands.
Martin Corbett, managing director, Homes for Students, said: “Homes for Students has demonstrated a robust financial performance with a strong balance sheet and healthy cash reserve, with strong future projections enabling us to wrap longer term operational risks.
“The addition of these two properties to our portfolio means we have reached an important milestone of 20,000 beds under management and, with nearly 5,000 beds secured in the pipeline and our unique service proposition, we are confident we will reach our objective of 30,000 beds by the end of our first five-year plan at the end of March 2021.”
Homes for Students’ unique service proposition aligns outcomes with its investor clients by its low management fees and being incentivised by sharing revenue above agreed target net operating income forecasts.
