CA’s Leicester-Based PBSA Scheme Awarded Highest Fitwel Rating of Three Stars

CA Ventures (“CA”), the vertically integrated real estate investment management company, today announced its 250-bed purpose-built student accommodation (PBSA) community, The Aspen, has been awarded the highest Fitwel Rating of three stars by the Center for Active Design. The certification, which only 8% of projects have achieved globally under the Fitwel Certification System, recognizes the asset’s sustainable and wellness-focused construction, design and operations – all of which cultivate the physical, mental and social wellbeing of occupants as well as overall sustainability best practices. All leasing, marketing and operations for the community are managed by CA’s in-house PBSA operating platform, Novel Student (“Novel”).

Created by the US Centers for Disease Control and Prevention and the US General Services Administration, Fitwel is a green building certification system that aims to improve, enhance and safeguard the health and wellbeing of residents. 

Novel Student was founded on a commitment to creating communities of healthier, happier students, so naturally, we are extremely honored to have been recognized by Fitwel for our efforts to deliver on this commitment,” said Matt Walker, executive vice president of CA’s European operations. As both owners and operators of premium PBSA schemes across Europe, we are acutely aware of the importance of protecting and promoting the physical, mental and social health and wellbeing of our residents, as well as our responsibility to be a champion for change across the industry. We look forward to continuing the assessment process for our other 2022 deliveries in the weeks to come as we gear up to welcome students in the fall.” 

The six-storey PBSA scheme, developed in joint venture partnership with Harrison Street Real Estate, features luxury interiors and an array of amenity spaces including a breakfast bar, lounge, Zen Garden, karaōke room and games room, as well as indoor and outdoor gyms. The community plans to welcome students in the fall of 2022 ahead of the 2022/2023 academic year. In addition to the Leicester asset, CA plans to deliver another 750 beds across Edinburgh and Belfast to serve students during the 2022/2023 academic year, all of which will be managed by Novel. CA has also announced joint ventures to expand its PBSA portfolio and the Novel platform to Ireland, Spain and Italy.