DLA Piper Advises Knightsbridge Student Housing Ltd. on Sale of Westbourne Portfolio

20th July 2015

Sheffield - The Sheffield office of DLA Piper has advised Knightsbridge Student Housing Ltd (Knightsbridge) on the sale of 13 student accommodation properties across the UK totalling just fewer than 6,000 beds, to a Goldman Sachs and Greystar partnership.

Backed by Oaktree Capital Management, Knightsbridge is a student accommodation investor, developer and operator with the key aims of providing high quality, service-led student accommodation in specifically targeted locations across the UK and Europe. DLA Piper, which advised on the acquisition and/or development of 10 of the 13 properties, acted on all real estate and construction elements of the sale, as well as aspects of tax, commercial, employment, and financing The DLA Piper team was led by Sheffield Real Estate partner Stephen Blacksell, with Tax partner Mark Burgess, Commercial Contracts partner Roger Gough, Construction partner Ian Doig and Finance & Projects partner Kirstie Allerton. Matthew Taylor, Chief Financial Officer at Knightsbridge Student Housing said: "Huge thanks to the whole DLA Piper team, as is often the case we have relied on you more than any other advisor and you have stepped up to help us on numerous occasions in this long process."i Stephen Blacksell said: "This disposal has been timed perfectly to capitalise on the increased profile of Student Accommodation as a genuine alternative asset class. The DLA team worked seamlessly across their respective work streams with Knightsbridge, and from selection of the final bidder saw it delivered within a challenging timescale."