Harris puts major UK PBSA portfolio on the market
Harris Associates is putting a 2,000+ bed PBSA portfolio across five undersupplied UK university cities on the market, on behalf of owners Southern Grove and Tadhamon Capital …
ISIF Commits €75m To Student Flats And Housing
The Ireland Strategic Investment Fund (ISIF) has announced a €75m commitment to Harrison Street for a co-investment strategy that will focus primarily on delivering new student accommodation in regional cities.
The programme aims to deliver c.€500m of new accommodation. ISIF said the investment will focus on the regional student accommodation market and will also explore wider opportunities to deliver new homes.
ISIF said its €75m funding commitment will comprise of €25m towards the new Harrison Street European Property Partners Fund IV that invests in student housing, build-to-rent residential and life sciences assets …
Empiric Student Property seeks joint venture partner to expand
Empiric Student Property is exploring bringing on board a joint venture partner to grow its portfolio of student accommodation.
The company, which reported strong half-year results yesterday, said in an analyst briefing that it had engaged PwC to look at options to expand its portfolio.
Chief executive Duncan Garrood said that traditional methods of growing the company were not available to it at the moment – with the company’s shares trading on a discount to NAV of around 30% excluding it from raising equity and debt currently very expensive …
Future Generation completes refinancing and plans £300m PBSA portfolio sale
Future Generation, the joint venture between developer Southern Grove and Tadhamon Capital, has completed the £133m refinancing of three of its purpose-built student accommodation (PBSA) assets ahead of plans to sell its entire five-strong PBSA portfolio for £300m-plus …
Watkin Jones agrees forward-funding deal on Belfast BTR scheme
Watkin Jones and Lacuna Developments have agreed a deal with Legal & General and Clanmil Housing Association to forward-fund the Loft Lines build-to-rent (BTR) scheme in the Titanic Quarter in Belfast.
The agreed funding amounts to around £155m of the wider £175m development and represents the group’s first build-to-rent (BTR) scheme in Northern Ireland …
iQ acquires and forward funds 1,209-bed PBSA development adjacent to the University of Warwick
iQ Student Accommodation (iQ), one of the UK’s leading providers of student housing, which is 100% owned by funds managed by Blackstone, today announces it has agreed to forward fund Topland Vintage group, one of the largest privately owned investment groups in the UK, on the development of a 1,209-bed student accommodation and co-living campus a stone’s throw from the University of Warwick.
iQ will partner with Topland Vintage Group and McLaren Property, one of the UK’s leading PBSA developers, to deliver the development in two phases, with the first phase expected to complete in 2025 and the second phase following in 2026. Planning consent for the campus was approved in December 2022 and construction is due to start at the end of this year.
Adjacent to the University of Warwick’s campus, the development will comprise 1,078 PBSA beds, 131 co-living beds and 6,000 sq ft of retail space. It will provide best-in-class amenities for residents including study lounges, game lounges, a TV lounge, private dining rooms, a gym and yoga studio …
DIF invests in UK student accommodation assets
Infrastructure manager DIF Capital Partners is acquiring a portfolio of eight UK student accommodation assets for its global infrastructure fund.
The manager, investing on behalf of the DIF Infrastructure VI fund, has agreed to buy Ottoway Portfolio Holdings from a fund advised by Arlington Advisors and Campus Living Villages (CLV). Financial details were not disclosed.
The Ottoway Portfolio consists of over 4,500 rooms across London, Birmingham, Leeds, Manchester, Liverpool, Nottingham and Newport …
Harrison Street and T3N announce sport PBSA JV
Investment management firm Harrison Street have partnered with T3N Sport & Investment to invest in and develop sport-oriented purpose-built student accommodation (PBSA) projects in Spain, the United States, Japan and Mexico.
Harrison Street are exclusively focused on alternative real assets, with approximately $55bn in assets under management and T3N Sport & Investment is an operating platform owned by T3N Group and ColivINN (T3N).
The exciting joint venture between Harrison Street and T3N aims to deliver sport-focused PBSA assets comprising 450 beds across seven buildings …
GIC, GREYSTAR CLEARED TO BUY UK STUDENT HOUSING PROVIDER
A UK regulator has cleared the proposed acquisition of Student Roost by Singapore sovereign wealth fund GIC and US developer Greystar after the deal was investigated over concerns that it could reduce competition among student housing players in one of Britain’s key markets.
The Competition and Markets Authority had been looking into the potential for the deal to cut competition among student accommodation providers in Birmingham, where the Greystar-GIC joint venture already has significant holdings, potentially resulting in higher prices and lower-quality services for students.
To resolve the issue, the Greystar-GIC JV has agreed to sell one or both of Student Roost’s two Birmingham properties, The Heights and The Old Fire Station, which have a combined 1,392 beds …
Vita sells Vita Student Lewisham Exchange PBSA
Industry leading development and operating platform Vita Group has sold Vita Student Lewisham Exchange, its flagship London modular purpose-built student accommodation (PBSA) scheme to AXA IM Alts, a global leader in alternative investments with c. €184bn of assets under management.
The Group’s award-winning operating platform, Vita Student will continue to run the building to its high brand standard on behalf of AXA IM Alts – ensuring no change in service for its residents.
Vita Student Lewisham Exchange officially opened at the start of the 21/22 academic year. The scheme includes 758 student beds in a prime location next to Lewisham train station. Amenities include a vibrant hub, gym, private dining rooms and study spaces. The building is targeting a BREEAM Excellent certification and is EPC rated A …