SINGAPORE - Mapletree Investments (“Mapletree” or “the Group”) is pleased to announce its acquisition of 8,192 operational beds across 19 cities in the UK and Germany, and an operating platform from Cuscaden Peak Investments. The £1 billion¹ (~S$1.7 billion²) acquisition brings the overall bed count within Mapletree’s UK portfolio to over 17,000, solidifying the Group’s position as one of the largest owners of student housing assets in the UK.

Said Mr Hiew Yoon Khong, Group Chief Executive Officer of Mapletree, “The acquisition is part of Mapletree’s strategy to grow the student accommodation sector in the UK, the US, Europe and Australia, which remain underserved by quality student housing assets. The student housing sector is one of the Group’s core real estate focus areas due to its fundamental demand-supply imbalance and defensive characteristics. We will capitalise on the newly acquired operating platform to support our strategic vision of growing as well as enhancing our operational performance in the UK.”

The operating platform manages two brands, namely Student Castle and Capitol Students, and provides Mapletree with direct operational control of the acquired portfolio, thereby enhancing the Group’s operational capabilities.

In 2023, the operating platform achieved Global Student Living’s Platinum certification, one of the most prestigious awards in the student housing sector. This demonstrates its operational excellence and ability to achieve high levels of resident satisfaction and wellbeing.

This newly acquired portfolio includes a range of student accommodation properties that offer extensive amenities and convenient access to universities. These assets are strategically located in key university cities in the UK such as Bristol, Cambridge, Durham, Edinburgh, Oxford and York, as well as Bremen in Germany.

These properties will complement the existing student housing assets which are already owned by the Group.

Mapletree is proud to feature a global portfolio diversified across the largest student housing markets of the UK and the US. Since entering the student housing market in 2016, Mapletree has grown its student housing portfolio to a total of 33,000 beds across 47 cities in the UK, the US, Germany and Canada, with total assets under management (AUM) of S$6.2 billion. The Group will continue to invest into this asset class while leveraging its development capabilities to undertake greenfield and brownfield development projects to grow its student housing portfolio.

 
Student Castle Oxford is a 515-bed student housing asset located adjacent to Oxford’s city centre railway station.

Student Castle Brighton is a 206-bed student housing asset located minutes away from the University of Brighton (Moulsecoomb Campus) and close to the University of Sussex.

Some of the many amenities Student Castle Durham offers include conducive study areas. 



Located in Edinburgh, Capitol Students Gorgie provides a shared kitchen for tenants in en-suite studios.

Footnotes:
¹~US$1.3 billion (£1=US$1.266 as at 31 March 2024)
²£1=S$1.705 as at 31 March 2024

<END>