The adjacent assets, Print Hall and Unity Street, total 491 beds and were developed with joint venture partner Global Student Accommodation.

Print Hall opened in 2017 while Unit Street was delivered in 2019.

Since 2015, Harrison Street has invested approximately €2.8bn in European student accommodation assets and now has 63 assets with a combined 21,000 beds.

Globally, the firm has invested over $24bn in the sector.

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“This transaction reflects the attractiveness of high-quality student housing as an asset class, and the continued global demand for alternative real estate in institutional-grade portfolios amid a more selective investment environment,” said Paul Bashir, CEO at Europe Real Estate at Harrison Street Asset Management.

“We are proud of the European business we have built and remain focused on sourcing opportunities that can generate durable value for our investors across market cycles.”

Gareth George, managing director at Ottoway, added: “Bristol is one of the UK’s most established university cities, underpinned by a prestigious academic institution, a growing student population, and persistent supply demand imbalance.

“This investment exemplifies our strategy of targeting, well-located PBSA assets in academically strong cities, where we can generate durable cashflows and long-term value.”

CBRE advised the seller on the transaction.