M&G hits 4.25% yield with London student housing buy

M&G Real Estate has acquired a student housing asset in London.

The firm paid £79 mln (€93 mln) for the property, achieving a yield on the transaction of 4.25%.

US investment management giant, Blackrock, was the vendor in the deal.

The property is one of two remaining buildings from Blackrock’s ‘Onyx Collection.’

It comprises four assets in the UK capital, Leeds, Sheffield and Dublin, in the Irish Republic. They were valued at around €354 mln, earlier this year.

Savills advised Blackrock on the transaction.

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