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鈥檚 Real Estate & Private Markets business (REPM) is forward funding a 367-bed, purpose-built student accommodation (PBSA) as part of its UK core real estate investment strategy.

The manager said it has committed 拢64.7m (鈧�74m) to fund the project in Redcliff Quarter, Bristol being developed by Madison Cairn, with Winvic Construction as principal contractor.

UBS AM REPM said the deal marks the sixth PBSA investment by the firm as part of the UK core real estate investment strategy.

Oliver Abram, portfolio manager, UBS Asset Management, said: 鈥淎 key focus area for our UK core real estate strategy is to continue to increase our exposure to the PBSA sector, targeting leading Russell group university cities across the UK.

鈥滲ristol is one of the strongest student accommodation markets in the UK, with positive supply and demand dynamics and a limited development pipeline. This acquisition complements existing holdings within the portfolio, which have achieved consistently high occupancy levels, delivering strong income returns for the fund.鈥�

Aneil Handa, director at Madison Cairn, said: 鈥淭ogether with UBS Asset Management, we are delighted to be supporting Bristol鈥檚 universities in delivering this much-needed high-quality and sustainable accommodation.

鈥漈his will be a market-leading product, underpinning our ability to unlock potential, enabling development of such an important and high-profile site, in one of the UK鈥檚 most attractive cities.鈥�

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