1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. Savills plc
  6. News
  7. Summary
    SVS   GB00B135BJ46

SAVILLS PLC

(SVS)
  Report
Delayed London Stock Exchange  -  11:35 2022-07-01 am EDT
1013.00 GBX   +0.10%
06/30SHELL & CORE OR CAT A FINISH : what do London occupiers want more in 2022?
PU
06/30SAVILLS : Newcastle expands its development team with new director
PU
06/29SAVILLS : European office vacancy rates stabilise at 7.2%
PU
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Savills : CA and PGIM Real Estate Announce Successful Disposition of UK PBSA Portfolio

04/28/2022 | 09:13am EDT

LONDON (April 28, 2022) - CA Ventures ("CA"), the vertically integrated real estate investment management company, today announced it has closed on the disposition of its initial portfolio of 897-beds purpose-built student accommodation (PBSA) assets in the UK for a combined transaction value of approximately £161 million. The three assets are being acquired by funds managed by Apollo Global Management. The announcement comes after the three communities across Sheffield, Glasgow and Edinburgh reached 100% leased in their first year. All leasing and marketing efforts were managed by CA's in-house PBSA operating platform, Novel Student ("Novel").

"Only three years after establishing our European headquarters in London, our initial PBSA portfolio has driven our swift success across three leading UK cities for students, and its record-value sale represents a strong validation of our investment thesis centered around a prime offering," said Carlo Matta, head of CA's European operations. "This milestone was made possible by the vertical integration of our expert team, who successfully managed the land acquisition, delivery, 100% lease up, operations and sale of this state-of-the-art portfolio despite the ongoing challenges presented by the global economic environment. With another 6,000 beds across Europe in our development pipeline and the backing of institutional capital, I couldn't be more excited for the future of CA's European operations."

CA plans to deliver another 1,000 beds across, Edinburgh, Leicester and Belfast to serve students during the 2022/2023 academic year, all of which will be managed by Novel. CA has also announced joint ventures to expand its PBSA portfolio and the Novel platform to Ireland, Spain and Italy.

PGIM Real Estate provided financing solutions to CA to support the development of the three sites. "We are pleased to have supported CA in their inaugural PBSA development in the UK through our PGIM Real Estate Capital (PRECap) platform, the European flagship high yield debt fund series," said Mathew Crowther, PRECap senior portfolio manager at PGIM Real Estate. "CA, with their depth of experience in this sector and their vertical arrangement, exemplifies the type of strategic sponsorship we seek, to benefit from PRECap's bespoke and creative capital solutions. This investment in prime UK student accommodation underscores the potential opportunities in tracking the ongoing structural trends in the living sector, a key investment pillar of PGIM Real Estate."

"The significant level of interest in this portfolio is testament to the high-quality assets our client had aggregated, as well as the continuing strong global investor interest in the UK PBSA market."," said Sonia Wang, associate director of Savills Capital Advisors, who advised the seller.

The disposed assets include:

Hillside House (250 beds) - Sheffield University, Sheffield Hallam University; Sheffield, England

Located one mile from the City Centre at 86 Winter St., Hillside House offers studio through six-bedroom apartments spanning 15 floors. In addition to premium in-unit amenities, Hillside House boasts luxury community amenities including a breakfast bar, karaoke room, gym, study space, wellness studio, rooftop terrace and outdoor cinema, as well as digital gaming and private dining.

Bridle Works (422 beds) - University of Strathclyde, University of Glasgow, Glasgow Caledonian University; Glasgow, Scotland

Located at 350 Cathedral St., Bridle Works is only 0.4 miles from Glasgow City Centre and offers studio through five-bedroom apartments across 20 floors. Community amenities include a single and dual gaming room, rooftop terrace with an outdoor BBQ, glam room, gym, private and group study space, bar area, private dining room, cinema and tea lounge, as well as karaoke and relaxation rooms.

Silk Mill (225 beds) - Edinburgh Napier University, University of Edinburgh; Edinburgh, Scotland

Silk Mill is located at 162 Dundee St., just 1.5 miles from Edinburgh City Centre, and offers residents modern studio through nine-bedroom apartments spanning five floors. The community provides outstanding shared amenity spaces, including a reception area, breakfast bar, karaoke room, gym, digital gaming center, bar area, private dining area, lounge, private and group study space, as well as an outdoor courtyard including BBQ grills and an outdoor cinema.

Disclaimer

Savills plc published this content on 28 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2022 13:12:41 UTC.


© Publicnow 2022
All news about SAVILLS PLC
06/30SHELL & CORE OR CAT A FINISH : what do London occupiers want more in 2022?
PU
06/30SAVILLS : Newcastle expands its development team with new director
PU
06/29SAVILLS : European office vacancy rates stabilise at 7.2%
PU
06/29SAVILLS : Fresh start for Lush with new flagship store in Glasgow
PU
06/29SAVILLS : City records highest monthly take-up since December 2021 as vacancy rate falls
PU
06/28SAVILLS : Public Sector reappointed to Homes England Framework
PU
06/28SAVILLS : Birmingham director wins Emerging Residential Property Person of the Year award
PU
06/24SAVILLS : East Anglia's premier hotel and golfing destination sold to Lion Quays Hotels
PU
06/23EMBODIED CARBON IN BUILDINGS : the big debate
PU
06/23SAVILLS : What role can the planning system play in Levelling Up?
PU
More news
Analyst Recommendations on SAVILLS PLC
More recommendations
Financials
Sales 2022 2 149 M 2 585 M 2 585 M
Net income 2022 115 M 138 M 138 M
Net cash 2022 48,4 M 58,2 M 58,2 M
P/E ratio 2022 13,3x
Yield 2022 3,37%
Capitalization 1 401 M 1 685 M 1 685 M
EV / Sales 2022 0,63x
EV / Sales 2023 0,58x
Nbr of Employees 39 118
Free-Float 93,0%
Chart SAVILLS PLC
Duration : Period :
Savills plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SAVILLS PLC
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 4
Last Close Price 1 013,00 GBX
Average target price 1 309,25 GBX
Spread / Average Target 29,2%
EPS Revisions
Managers and Directors
John Jeremy Mark Ridley Group Chief Executive Officer & Director
Simon James Blouet Shaw Group Chief Financial Officer & Executive Director
Nicholas Ferguson Non-Executive Chairman
Stacey Lee Cartwright Senior Independent Non-Executive Director
Florence Tondu-Melique Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
SAVILLS PLC-28.05%1 685
CBRE GROUP, INC.-30.25%24 222
KE HOLDINGS INC.-10.79%22 696
CAPITALAND INVESTMENT LIMITED11.14%13 883
JONES LANG LASALLE INCORPORATED-35.08%8 988
ZILLOW GROUP, INC.-45.68%8 302