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CPPIB Invests in UK Student Residences

U.K. student housing

Canada Pension Plan Investment Board has acquired five UK student residences from Student Castle for £330M. The deal, made via CPPIB Liberty Living (CPPIB acquired student housing provider Liberty Living in March) includes buildings in Cardiff, London, Manchester and Newcastle, markets where Liberty Living already has a presence; and Bristol, a key university city the company is targeting. Liberty Living CEO Charles Marshall said the transaction is an “excellent example of the marriage of CPPIB's long-term capital to the Liberty Living operating platform to acquire top-quality assets in the (student housing) sector."