Goldman Sachs and Wellcome sell iQ Student Accommodation to Blackstone
UPDATE: 15th May 2020 – iQ Student Accommodation confirm the completion of the sale of iQ by Goldman Sachs Merchant Banking Division and the Wellcome Trust to Blackstone.
Visa application issues could stop students reaching universities
The closure of visa application centres around the world could prevent international students from reaching university campuses this September, according to industry stakeholders.
The centres are used to collect biometric information, documents and, in some countries, function as places to conduct in-person interviews with applicants – all necessary steps before a visa can be issued.
However, VFS Global, an outsourcing company that manages visa applications for governments, shows that Canadian, US, Australian and UK centres in multiple countries are closed due to the pandemic …
Global HE considers quarantine options for on-campus teaching
To bring some international students back to onto their campuses, institutions in Australia, New Zealand, Canada and the US are closely following government announcements in order to make decisions on next semester’s operations, and are weighing up available options for quarantining students.
Globally, new national health board directions are opening opportunities to reintroduce limited face-to-face teaching at universities, with some institutions looking at the possibility of working with hotels to ensure efficient self-isolation measures for students as needed.
The UK’s Covid-19 recovery strategy features border restrictions – to be rolled out “as soon as possible” – and will require international arrivals to self-isolate in accommodation for 14 days on arrival into the country …
‘A remarkably resilient sector, but not invulnerable’ – Philip Hillman discusses the impact of Covid-19 on the student housing sector
As The Class of 2020 takes stock of the evolving impact of this crisis on the student accommodation industry, we have kept in touch with the expert voices in our community. While Philip Hillman, Chairman of Living Capital Markets at JLL, is optimistic that transactional activity may pick up in the latter part of 2020 and 2021, his experience informs a cautious view on the recovery timeline given some serious complexities at play in the higher education landscape, particularly in the UK.
This interview series will be published on The Class Radar in the coming days, but we are excited to share it here while our website undergoes maintenance …
Investor agrees to fund new rental homes scheme in Barking
Aberdeen Standard Investments has agreed to fund a £50 million new rental homes development in east London’s Barking, the fund manager said on Wednesday.
The investor has bought a former sports centre in Barking town centre from Barking and Dagenham council. Property developer Lindhill will work on creating 170 apartments there, of which 60 will be affordable.
It marks the latest build-to-rent deal for Aberdeen, which last month invested in a Stratford site. Property investors have been increasingly ploughing money into the sector in the UK. More people, particularly in London where it can be very tough to get on the housing ladder, are looking to rent homes for longer …
Virtual Adaptation during COVID-19: Who has done what well?
Rebecca O’Hare
Res Life | Student Experience, Success & University Transitions | Student Well-being & Mental Health | PBSA | Consultant
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In a previous article, Rebecca O’Hare discussed the debunked myth of the digital native, the origin of the theory and proposed use of an alternative, whereby Residence Life/Student Accommodation professionals perhaps begin to consider the concept of ‘visitors’ and ‘residents’. Suggested in a bid to ensure the creation of virtual communities are as accessible and inclusive as they can be, it prompted her to share a series of responses and resources that has caught her attention over the last 6 – 8 weeks and which may prove useful for the Student Accommodation sector beyond COVID-19 …
StudentRoomStay announces $10m funding round
Student accommodation provider StudentRoomStay.com has closed its first seed round of funding at a post valuation of more than $10 million as it prepares its 2020 US launch, before expanding to other international markets.
Founded by Adam Lee of US-based AmeriStudent and David Bycroft of Australian company MyStay International, StudentRoomStay is seeking to “build the future of student accommodation worldwide” for both domestic and international students.
The provider raised the funding round in order to accelerate growth post Covid-19, as well as purchase technology and IP from MyStay International …
Coronavirus: Bid to introduce notice periods for student halls
Students who cannot take up places in purpose-built accommodation due to the Covid-19 pandemic will be able to end their lease under new legislation.
People under contract in halls of residence will be able to give seven days’ notice to cancel their agreement.
Those who enter into a contract will also be given the power to give 28 days’ notice …
Savills advises on largest student accommodation transaction in Australia for A$2.1bn+
Evergreen, M3 Capital Partners’ (“M3”) principal investment vehicle, has sold its 7,402 bed Urbanest Australia Purpose Built Student Accommodation (PBSA) platform. The sale, in excess of A$2.1 billion, is the largest ever student accommodation transaction in Australia and reflects a new low in terms of Net Initial Yields for the sector.
The disposal includes 15 PBSA assets in Sydney, Melbourne, Adelaide and Brisbane, as well as market leading operational platform, Urbanest Australia.
The platform, along with 14 operational assets, comprising 6,875 beds, were purchased by a syndicate of global institutional investors managed by Scape. An additional 527 beds, currently under construction, have been purchased by the University of Melbourne. Savills advised the vendor on both transactions …
Student halls developer Empiric mothballs three projects
Developer Empiric Student Property has halted plans for three student accommodation projects as it seeks to protect cash reserves.
The firm announced this morning that it has decided to delay the developments until market conditions stabilise.
Projects delayed include the 232-bed Emily Davies scheme in Southampton, a Canterbury building refurbishment to create 134 beds and its 153-bed St Mary’s project in Bristol …