DLA acts on £23m student digs deal
Lawyers from DLA Piper's Sheffield office have acted on a £23m student housing deal.
The firm worked with Knightsbridge Student Housing (Knightsbridge) on the acquisition of a student housing scheme in London.
DLA provided real estate, construction, banking and tax advice on the purchase, construction and funding the accommodation, based in Whitechapel.
The development of the 187 bed scheme is on track for completion by September 2012.
Ian Doig, legal director at DLA Piper in Sheffield, said: "Despite a difficult market, the fund Knightsbridge has expanded over the last year to become one of the top ten student housing providers in the UK.
"The deals we have acted on over the course of 2011 have been particularly challenging given economic conditions, but it is testament to Knightsbridge's commitment to this sector that we've been able to get them all over the line.
"Last year, £850m was invested into the student housing market and DLA Piper has acted on a sizeable proportion of that. Whitechapel is the next step in helping Knightsbridge achieve its expansion plans and will go towards meeting the increasing demand for quality and conveniently placed student accommodation in cities which have a significant student population."
