Student accommodation deal overseen by two practices
16th July 2012
The sale of the university accommodation group Nido Student Living has been completed, with two international firms providing counsel.
A raft of solicitors with high-powered commercial legal jobs were given instruction to help with the £400m takeover, which ranks among the most lucrative property transactions to have taken place this year.
Nido, who opened their first building in the King’s Cross area of London back in September 2007, were previously owned by the American asset management and financial services giant Blackstone, but were recently bought out by Round Hill Capital, a British-based real estate investment organisation.
This is just the latest in what has been a string of major student accommodation deals to have been advised on during the last year, such as the refinancing of Liberty Living, which cost around £300m, and the sale of Griffon Studios by Imperial College London and Berkeley First to Legal & General Property.