Ropes & Gray Advises Partners Group on £1 billion PBSA and Co-Living JV
Ropes & Gray has advised Partners Group, a leading global private markets firm, acting on behalf of its clients, on its programmatic joint venture with Host Student Housing (Host) to build up a £1 billion UK purpose built student accommodation (PBSA) and co-living platform and on the joint venture’s first acquisition of a four-asset seed portfolio.
The seed portfolio comprises assets totalling 808 bedrooms – two Host-owned operational PBSA assets in Leicester and Colchester, a PBSA project in Bournemouth and a co-living development project in Guildford. Host is the minority partner in the joint venture and is appointed as asset, development and operating manager.
The Ropes & Gray team was led by private equity real estate partner Will Bryant, with private equity real estate partner David Seymour, associates David Broome, Nick Steynberg and Rosie Bell, and trainees Charlotte Hoggarth and Abbey Shaw. Other members of the team included tax partner Andrew Howard and associate Benjamin Wonnacott, finance associates Sean Darling and Benjamin Cooper and trainees Adam Wilson and Toby Morris, and litigation & enforcement partner Sean Seelinger, counsel Paige Berges and associate Aysha Thompson.