Final Opal portfolio for sale
Lone Star is marketing the last remaining student housing portfolio from the collapsed Opal Group, including three student halls and two hotels in Manchester.
The £290m portfolio includes eight student accommodation buildings, with three in Manchester: Wimslow Park, Chandos Hall and Weston Hall. There is also Opal Court in Leicester, Opal 1, Opal 2, Atlantic 1 in Sheffield and Opal 1 in London.
The two hotels are The Place in Manchester and the Manchester Conference Centre. Two private residential blocks in Plymouth and Disley are also up for sale.
Eastdil Secured has been appointed to market the portfolio, which Lone Star acquired from the Irish Bank Resolution Corporation.
Around 50 companies comprising the Manchester-based Opal Property Group were placed in administration with insolvency firms including PwC, Ernst & Young and KMPG in March 2013.
Opal, once the UK's biggest provider of student accommodation, collapsed with debts of £886m having failed to meet a financing deadline.
