CA Ventures enters Iberian market with €200m commitment
Chicago based investor CA Ventures has committed to spending €1bn in the next 5 years in Spain and Portugal in student housing and Build to Rent projects …
Turkey’s largest student beds provider makes UK debut
Turkey’s largest and first PBSA provider UNIVA has made its first UK investment as part of a Europe-wide push to double its portfolio.
It has acquired a 140-bedroom scheme in Cardiff from Opto Property Group for £10m, which will develop and operate the scheme.
The scheme, UNIVA & Opto Cardiff, incorporates a basketball court, tennis court, games room, club house, spa treatment and wellness salon, with a rooftop workstation, sky gardens and sky bar.
UNIVA is a subsidiary of real estate investment specialist Erkanli Holdings. It has a portfolio of 4,911 student bedrooms …
Goldman agrees £4.7bn deal to sell IQ to Blackstone
Goldman Sachs and Wellcome Trust have agreed to sell the UK student accommodation company IQ to Blackstone in a £4.66bn deal …
Landmark Properties Acquires 2,289-Bed Student Housing Community at University of California, Davis
Landmark Properties has acquired Sol at West Village, a 2,289-bed student housing community at the University of California, Davis (UC Davis) campus, which is situated about 15 miles west of Sacramento. While the sales price was not disclosed, the transaction is the largest single-asset sale to date in the student housing sector, according to sources.
Amenities at the on-campus property include a 24-hour study hall, fitness center, yoga studio, café, media theater, dog park and two swimming pools. Sol at West Village also includes 36,000 square feet of commercial space, which is currently leased to UC Davis. The community was built in three phases between 2011 and 2013.
Sol at West Village is the largest net zero energy community in the United States, meaning it is designed to produce as much energy as it consumes. To meet this goal, the community combines efficient overall design with renewable on-site energy production via solar panels installed throughout the community …
LaSalle IM funds Audley retirement scheme
LaSalle Investment Management has agreed a £106m loan facility to finance the development of two retirement villages in the South of England.
The development loan has been extended from the LaSalle Residential Finance (LRF) programme to a recently formed joint venture between Audley Group and the UK Retirement Living Fund, which is managed by Schroders Real Estate and Octopus Real Estate …
Blackstone to buy student housing group iQ from Goldman Sachs for £4.7bn
A giant American private equity investor is making a £4.7 billion bet on Britain’s student housing market in what will be the country’s largest private real estate deal on record.
Blackstone has agreed to buy the iQ student housing company from Goldman Sachs, the investment bank, and the Wellcome Trust, the biomedical research charity; iQ owns and operates 67 student housing blocks comprising more than 28,000 beds in 27 UK cities.
James Seppala, head of real estate Europe at Blackstone, said: “This acquisition ….
Apache Capital targets £600m for its second UK BTR venture
Apache Capital is targeting North American investors for its second build-to-rent (BTR) vehicle, which it hopes to raise £600m for.
Apache chief executive and co-founder John Dunkerley said North American investors saw a huge opportunity in the UK BTR market, which is relatively immature compared with the market in the US, where BTR schemes have been around for decades.
“There is also very little ‘off-the-shelf’ product at the moment that they [US investors] can buy as a way in,” he said. “There are few genuinely purpose-built schemes open and even less of what they call class-A multi-family – amenity-rich and service-driven [schemes].” …
The Student Hotel to invest €65M in Turin regeneration project
The European hotel operator, developer and investor expects to have invested around €1 bn in Italy by 2025 …
Realstar buys Ilford BTR scheme for £100m
Canadian investor Realstar has bought Pioneer Point, the 294-unit build to rent scheme in Ilford, for $130m (£100m) from Kennedy Wilson, the Beverly Hills-based real estate company …
Grainger lines up £305m PRS spree
Build-to-rent behemoth Grainger has launched a share placement to fuel a £305m acquisitions spree. The fundraise will push its secured pipeline over £1bn, with secured schemes worth £978m and £91m in planning and legals. Grainger will place up to 61.2 million new ordinary shares, representing around 10% of the company’s issued share capital. It is seeking to raise £185m, leveraged with around £120m of debt, to secure new projects and fund its secured pipeline in Birmingham; Canning Town, London; Cardiff and Nottingham. The BTR developer will commit £59m to new schemes which are in planning and legals.