Carlyle seals debut JV in UK student property sector
The Carlyle Group is stepping up its drive into Europe’s fast-growing student housing sector after forming its first UK development joint venture, with a special focus on London’s under-supplied market.
The global private equity firm has teamed up with student accommodation operator Generation Estates Limited to develop four schemes in London, with capacity for about 1,850 beds and an estimated value of about 350 million pounds ($548 million).
“We have been aware of the attraction of student accommodation for some time, given the strong fundamentals of the market, particularly the ongoing supply/demand imbalance in the UK,” Robert Hodges, Managing Director, Carlyle European Real Estate, said in a statement ….