Britain's The Dot Group has bought CRM Students, a university residence manager with two student residences in Porto, from Corestate Capital Holdings.
The Dot Group is thus acquiring CRM Students and its subsidiaries in the UK and Europe, with more than 26,000 beds in seven countries. In concrete terms, this strategic acquisition expands Dot's global presence in four new European markets: Austria, Italy, Poland and Portugal, while significantly strengthening its position in the UK, according to a statement from the company.
CRM Students is a benchmark company in the student accommodation market, with an extensive portfolio of properties and personalised management services. CRM Students' growth has been based on excellence in the operational management of third-party accommodation. The university residence manager, through the Beyoo brand, has two student residences in "Invicta" - BigCity Porto Asprela and Studyou Porto Asprela.
Nicholas Porter, CEO of The Dot Group, said: "We are delighted to announce the signing of a contract that brings CRM Students into the Dot family. CRM Students is a company that has achieved remarkable success, expanding organically both in the UK and in several European countries in third-party property management. As a transformative force in global student life, Dot is committed to making a difference for students by connecting and strengthening our brands to drive superior performance, further expansion and growth in both existing and new markets."
For his part, Richard Skeels, CEO of CRM Students, is delighted that "we have reached an agreement to join The Dot Group. CRM Students has a track record of success in the UK and Europe that we are proud of. We believe that Dot is the ideal partner to continue this journey and further enhance our offering to our customers and students".
He added: "Our strategy will continue to focus on third-party property management and business expansion in the UK and Europe, while continuing to provide services to our existing clients. We are excited about the new opportunities that will arise from our integration into The Dot Group, as well as being part of its global leadership in student life."