CPPIB buys five UK student residences with 2153 beds for 672 million

LONDON — Canada Pension Plan Investment Board has acquired five student residence buildings in the United Kingdom for the equivalent of nearly $672 million.Four of the buildings acquired from Student Castle are in cities where the Canadian pension fund manager already has a presence through its subsidiary Liberty Living, which CPPIB acquired in March.Those cities are Cardiff, London, Manchester and Newcastle.The fifth city is Bristol, where Liberty Living hasn’t had a presence before.The residences purchased from Student Castle for 330 million pounds include a total of 2,153 beds — bringing the total in Liberty Living’s portfolio to 19,000 beds in 46 residences in 18 cities.The Canadian PressCPPIB expands its debt business in $12B deal to buy Antares lending unit of GE CapitalCPPIB buys 60% stake in Toronto rental property, entering Canada’s multi-family real estate market

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