Unite Group has acquired a development site in Leeds, slated to house a student residence it has estimated will cost around £80m to develop.
The company said the site was acquired on a subject-to-planning basis and could provide a home for over 1,000 students.
The new building is expected to be open for the 2020 academic year and deliver a yield on cost of 8%, it added.
"The transaction reflects Unite's strategy of aligning its property portfolio with high-ranking universities where student numbers are growing whilst underpinning further earnings growth and visibility." the company said.