Summary:
- BauMont Real Estate Capital, backed by M&G Real Estate, acquired the 416-bed Ropemaker Court PBSA scheme in Manchester for £42 million in partnership with Spinnaker Estates, marking a significant investment in the city’s student housing market.
- The asset will undergo a phased refurbishment focused on improving its physical condition, operational efficiency, and energy performance, aligning with evolving standards and tenant expectations.
- This acquisition was made through BauMont’s second value-add fund, which closed last year with over €450 million in capital commitments, reflecting strong investor confidence in the UK student accommodation sector amid growing demand and supply constraints.
Original article:
https://benews.co.uk/baumont-acquires-manchester-pbsa-scheme-for-42m/
