DLA Piper advises Mace on GBP 157.5 million student housing project

DLA Piper has advised Mace on all aspects of two purpose built student accommodation (PBSA) schemes, including acquisition, development, finance, construction and planning.

The two sites in Exeter and Cardiff comprise a total of 1,359 beds, including 12-bed cluster rooms, duplex studios and one-bed flats. This culminated recently in the DLA team acting on the corporate sale of both assets to Ares/Generation Estates as the developments approached the end of the construction phase.

The DLA Piper team was led by partner Jonathan Northey, associates Shahanaz Hussain and Chris Barker (Real Estate), partner Ben Forgiel-Jenkins and senior associate Edward Coates (Corporate), partner Trevor Ivory and associate Pieter Claussen (Planning), partner Stephen Malley and senior associate Ross Galbraith (Construction), senior associate Nick Hinton (Tax), partner Christopher Chan and associate Joey Pak (Real Estate Finance).

Jonathan Northey, DLA Piper’s London Location Head for Real Estate, said: “This deal showcases our full-service offering and deep experience in the PBSA sector, having transacted on deals totalling in excess of 25,000 beds over the past decade . We are delighted to have been able to advise our long-standing client Mace in completing this project and look forward to supporting them with their future goals.”