INVESTMENT HIGHLIGHTS
- The sponsor is a family office with a geographic focus on UK and Europe. Their main strategy is acquisition of residential cash flow generating assets and strategic developments.
- The portfolio consist of 157 assets with mainly residential units. The portfolio has value add potential as includes a plot of land with planning permission and extension possibilities in some of the assets.
- The portfolio is all located in Colchester, in Essex. Situated on the River Colne, Colchester is 50 miles (80 kilometres) northeast of London and is connected to the capital by the A12 road and its railway station which is on the Great Eastern Main Line.
- Colchester is seen as a popular town for commuters, and is less than 30 miles (50 km) from London Stansted Airport and 20 miles (30 km) from the passenger ferry port of Harwich. It is also home to the University of Essex, one of the top universities in UK with 15,000 students enrolled annually.
- The portfolio currently generates £3m of net rent income and produces an NOI of £2.8m (5.60% yield). By end use, the portfolio consists of: 13 commercial units, 99 residential units, 31 student accommodation assets with a total of 280 rooms, 3 HMO assets with a total of 80 rooms, and 10 residential units let to councils. It also includes a plot of land with planning permission for a residential development.
- The sponsor is looking for senior financing that will permit to acquire the portfolio and will be contributing its own equity in the acquisition.
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DEAL DATA ROOM
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