Addleshaw Goddard has advised University Partnerships Programme (UPP), the leading UK provider of on-campus residential and academic accommodation infrastructure, on a deal worth £43 million with St Modwen Developments, Swansea University and Swan Global Education LLP, for the acquisition of a further 411 rooms at Bay Campus, Swansea.
The deal represents the latest phase in the partnership between UPP and Swansea University, and follows on from the transaction in February 2018, valued at circa £98 million, which saw Addleshaw Goddard advising UPP on the complex acquisition and funding of 2,021 rooms, for which Addleshaw Goddard won Professional Team of the Year at the 2019 Student Accommodation Awards and the transaction won Best Financial Structure at the Partnership Awards 2019.
This new deal means that UPP now operates 2,432 rooms on the Bay Campus, with a total UK portfolio of over 35,000 rooms with 15 leading UK universities, either in operation or under construction.
The Addleshaw Goddard team was led by partner Adrian Collins and managing associates Hanan Taousi-Chahboun (Real Estate) and Ian Kynoch (Real Estate Finance) and included a large team from across the firm, including Julia Court, Marcel Marquardt, Sarah Wright, Peter Sayer and Chris Connors.
Adrian Collins, commenting on the deal, said: "We have a long term relationship with UPP and are proud to have supported them again on this important transaction, which builds on their partnership with Swansea University."