Rava Partners-backed Elevate buys Hartland campus in Dubai

Elevate acquires USD 100 mn HIS real estate: Education-focused real estate platform Elevate has acquired the property of Hartland International School (HIS) in Dubai from NBK Capital Partners Real Estate Fund in a transaction valuing the property at USD 100 mn, according to a press release. Elevate is backed by Asia-focused Rava Partners, and the transaction marks Rava’s entrance into the Gulf market.

The asset: HIS is a UK-curriculum K-12 school located on nine acres of freehold land in Mohammed Bin Rashid City, operated under a long-term lease by Meraki Education, which also manages schools in Dubai and Singapore. Over 2k students are currently enrolled there.

The acquisition adds to Elevate’s growing portfolio of education-focused assets, which includes over 30 across India, serving more than 90k students and valued at around USD 1 bn. The platform was launched in 2023 by Rava Partners — the real assets arm of Hillhouse Investment — and its Indian operating partner, Alta Capital.

ADVISORS- Standard Chartered Bank acted as the sole lender. NBK Capital Partners Real Estate Fund was advised by Janus Henderson Emerging Markets Private Investments.