Category: Development Activity

Listed Singaporean developer Wee Hur has acquired a row of neighbouring shops and residential units in Sydney’s Redfern for $46 million with plans to develop a large student accommodation facility.

The 1287-square metre site, which runs from 90 to 102 Regent Street has been acquired by Wee Hur’s $1 billion Australian student accommodation master trust, which aims to deliver 5000 student beds by 2022.

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Global real estate institutional investment companies Ivanhoé Cambridge Holdings UK Ltd (“Ivanhoé Cambridge”) and Bouwinvest Real Estate Investors (“Bouwinvest”) alongside Greystar Real Estate Partners LLC (“Greystar”), a global leader in the investment, development and management of high-quality rental housing properties, today announced a new ‘develop-to-core’ venture focused on funding purpose-built student accommodation (“PBSA”) and young professional accommodation in the Greater Paris Region, with an investment capacity of €1 billion.

This newly created platform will be governed through its board composed of Ivanhoé Cambridge as a majority shareholder, Bouwinvest and Greystar, which will also operationally manage the venture. The objective is to deploy funds to target new acquisitions, including ground-up developments and projects already under construction. The venture has already identified a significant pipeline of opportunities in the Paris Region and is targeting a number of initial acquisitions over the coming months.

The venture will focus on delivering best-in-class student and young professional accommodation, including exceptional amenities and services, with a preference for locations with exposure to the extensive Greater Paris public transport projects. This focus is aligned with the shareholders strategy in other major European cities, focusing on hubs with stable employment and long-term persistent rental housing demand, such as London, Berlin, Amsterdam and Vienna …

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Future Generation has refinanced a £39m development loan that will partly fund construction of the third phase of a Sheffield student accommodation scheme.

It comes at the end of five days of dealmaking for the company, which saw it secure another £55m development loan to construct two other student schemes in Loughborough and Nottingham.

The work on the final phase of Steel City, Sheffield, is being funded by the refinancing of another Maslow Capital development loan that covered construction of both Steel City and the completed Future Generation student scheme, Hythe Mills, in Colchester, Essex ..

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EREC Estates is a joint venture company that brings together the sons of two very different real estate tycoons.

The Hon William Cadogan, son of Earl Cadogan, heads one half of the partnership, Trust Estates. The other half, European Real Estate Company (EREC), is led by Pan Rui, son of Pan Shiyi, chairman and founder of the developer SOHO China, which Blackstone is in talks with to buy for $4bn (£3.29bn).

The combination means EREC Estates, a specialist in student accommodation investment and development, is as well placed as any to take advantage of the hitherto growing influx of Chinese students into the UK …

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Future Generation Unveils Two Pbsa Schemes Alongside £55million Development Facility From Maslow Capital

● Development finance from Maslow Capital secured to construct Luxurio in Loughborough and The Vantage in Nottingham
● Both schemes have already received planning consent, McAleer & Rushe selected to begin construction immediately
● PBSA specialist Future Generation is a partnership between developer Southern Grove and Tadhamon Capital …

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