LONDON – July 2025 – Generation Partners and Goldman Sachs Alternatives acquire Portswood House for £86m.
A market leading UK student accommodation asset totalling 435 beds located in the prime regional city of Southampton.
Generation Partners will act as the asset and development manager, while dedicated student accommodation operating platform Now Student Living will act as the property manager.
Real Estate at Goldman Sachs Alternatives and Generation Partners today announced the $116m acquisition of Portswood House, a market leading UK student accommodation asset totalling 435 beds located in the prime regional city of Southampton. Generation Partners will act as the asset and development manager, while dedicated student accommodation operating platform Now Student Living will act as the property manager.
Both parties have significant experience in the UK PBSA (Purpose-Built Student Accommodation) sector. Goldman Sachs Alternatives previously led the establishment and was the majority investor for iQ Student Accommodation, which sold at the time for £4.67bn in 2020 in the UK’s largest ever private real estate transaction. Generation Partners meanwhile, has previously developed and managed some of the UK’s leading student accommodation platforms, including Nido and Pure Student Living. This acquisition follows Goldman Sachs Alternatives and Generation Partners’ initial acquisition of the $140m, 2 asset UK PBSA portfolio in December 2024 (Halo portfolio).
Chris Semones, Managing Director in Real Estate at Goldman Sachs Alternatives, said: “We are excited to continue building our portfolio of UK PBSA assets and work with Generation Partners on the acquisition of Portswood House, a market leading PBSA asset in Southampton. This investment fits well with our continued conviction in the UK PBSA sector, which is supported by favourable demographic tailwinds and supply/demand fundamentals.”
Alan Artus, Chief Executive of Generation Partners, said: “We are delighted to have completed our second acquisition for our Joint Venture with Goldman Sachs and we look forward to continuing to grow this platform with their support.”
Paul Watson Co-Founder and Managing Director of Now Student Living, commented: “The addition of this asset to the Now Student Living platform demonstrates our dedication to the expert operation of high-quality, well-managed accommodation in prime locations, tailored to meet the diverse needs of a broad student demographic. By leveraging a talented team of sector professionals, we aim to enhance the student living experience, while ensuring a better service for both students and our strategic investment partners
