The Limelight scheme was acquired from Blacklight Capital Partners and developed in conjunction with RoundShield.

Limelight is located within Liverpool’s ‘Knowledge Quarter’ student catchment area, close to the University of Liverpool and Liverpool John Moores University.

The asset comprises 535 student beds arranged across a mix of studios and cluster apartments.

Amenities include a study space and social areas such as a sky lounge and kitchen, as well as a gym and cinema.

Blacklight acquired the original Limelight site from administrators in 2022 following a detailed analysis of Liverpool’s student accommodation fundamentals.

The project was delivered by Blacklight in financial partnership with RoundShield, the European credit and tactical opportunities arm of global alternative asset manager Harrison Street.

Blacklight took the scheme through planning, design development and construction, with full operation commencing in 2024.

Since opening, Limelight has achieved stabilised occupancy at 99% and income performance ahead of underwritten business plan assumptions.

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James Humphrey, principal of UK & northern Europe at HMC, commented: “This acquisition reflects our strategy of targeting high-quality, recently delivered assets at an attractive entry basis in structurally undersupplied markets.

“Our direct sourcing capabilities, sector expertise and strong local relationships were key to originating and executing this opportunity.”

David King, senior managing director and co-head of European real estate at HMC, said: “We believe this investment will deliver resilient inflation-linked income and is well positioned to weather a potential ‘higher-for-longer’ environment, as continued geopolitical volatility places upward pressure on inflation expectations.”

Matthew Hunt, principal and founder at Blacklight, added: “We have been impressed by HMC’s obvious capabilities, depth of capital and conviction in the sector, and see it as an ideal long-term owner to drive Limelight’s next phase of growth.

“We wish HMC well as it grows its portfolio in Liverpool, a city we continue to back as a PBSA investment destination.”