Apeiron Capital launches £300m student housing platform
LONDON / BERLIN/ STOCKHOLM – Apeiron Capital (“Apeiron”), the European property specialist has today announced the launch of a new student housing platform with an initial target size of £300m. In addition, Apeiron is pleased to announce its first acquisition, a 100-bed student housing asset in Stratford London for £10.35 million. The transaction offers an initial gross yield of 8.5%. Apeiron estimates its current pipeline of near term opportunities at a further £50 million.
Located on Stratford High Street and close to both Stratford and Stratford High Street stations, the asset benefits from strong transport links and its proximity to local amenities at Westfield shopping centre. The asset’s strategic location and existing layout means that there is strong potential for rental growth as well as offering further development opportunities in the medium to long term.
The building, managed by student housing specialist The Mansion Group, is let to Goldsmiths, University of London, which has two years left on its’ existing lease. This deal represents Apeiron’s first in the London student housing market and follows the € 100million acquisition of a portfolio of 837 residential and 68 commercial units within 25 residential buildings in Germany undertaken in partnership with Kauri CAB Management GmbH and a leading global Sovereign Wealth Fund announced last month.
Vojkan Brankovic, Managing Partner, Apeiron Capital commented: “The student housing market has performed well in recent years and strategically-located assets, particularly those with potential for renovation, continue to offer attractive returns for investors. The relatively opportunistic yield coupled with the potential for further rent maximisation and development will allow Apeiron Capital to employ its’ strong asset management expertise to drive returns on behalf of its investors.
“We are pleased to complete this first acquisition in our new platform and look forward to working with The Mansion Group to provide excellent accommodation for the building’s student occupiers.”
Maclay Murray & Spens LLP and JLL acted for Apeiron.
Apeiron is a privately held principal investment and asset management firm dedicated to real estate opportunities in the UK, Germany and the Nordic region, with offices in London, Berlin and Stockholm. The company implements investment strategies in niche segments of the real estate market combined with a disciplined asset management approach. Apeiron specialises in the residential segment and related markets.
For further information about Apeiron please see our website: www.apeiron.com