Patrizia buys two student residences in Barcelona
The German fund reaches an agreement with The Student Hotel to take over its two projects in Marina and Poble Sec for around 110 million euros. The operation yield stands at 4% …
News Articles
EQT Exeter to acquire portfolio of six purpose-built student accommodation assets in the UK
- EQT Exeter to acquire six flagship student accommodation assets in two separate transactions from subsidiaries of Watkin Jones PLC and Tide Construction
- The transactions total 2,313 beds in high-quality developments and will improve the availability of student housing in central locations in top-tier university cities in the UK
- Bringing its European student housing portfolio to a total of 5,222 beds, EQT Exeter continues to execute on its strategy of providing a high-quality, high value-for-money housing offering with strong sustainability features in university cities that are underserved by the wider residential market …
Vita’s European expansion begins with Vita Student Pedralbes
Renowned for delivering some of the biggest regeneration projects in purpose-built student accommodation (PBSA), Vita Group announces it will invest €350m in its European expansion programme. The Group is preparing to launch its first scheme outside of the UK – Vita Student Pedralbes in Barcelona which is expected to open in September 2022.
With construction well underway, Vita Student Pedralbes is the Group’s first residence to open in Europe. The PBSA scheme has been designed by prestigious architectural firm Batlle I Roig. The design-led building will deliver 274 student beds and will create a thriving community thanks to its amenities, which include private study and dining rooms, state-of-the-art gym, swimming pool, lounges and hub spaces.
In early 2023, Vita Student Poblenou – the Group’s second PBSA scheme in Spain – will bring a further 349 student beds to Barcelona, opening in the 22@district – another of the city’s student hotspots. Once open, Vita Group will directly employ over 50 new jobs in Barcelona, with total investment into the European expansion set to exceed €350m. The business is expected to indirectly contribute to circa 750 jobs throughout Spain, with the ambition of creating more beds to meet Barcelona’s growing demand for PBSA and ease existing pressures on the city’s housing stock …
UBS buys Nottingham PBSA for £59.8m
UBS purchases a Nottingham purpose-built student accommodation asset for £59.8m for its UK core real estate strategy.
UBS Asset Management (UBS-AM) Real Estate & Private Markets has purchased a purpose-built student accommodation (PBSA) asset in Nottingham for £59.8m on behalf of its UK core real estate strategy. The site was originally a mill, and in 2019, was redeveloped into PBSA.
The development was purchased from Tosca Mill 1 – backed by Toscafund via its investment in Mabec Property. The acquisition adds to the company’s existing student accommodation holdings in this high demand growth sector …
Summix gets Bristol beds nod after three-year wait
Summix has been given the go-ahead to turn a brownfield site in St Philip’s Marsh, Bristol, into a 595-bed student scheme. Plans for the development, at the corner of Feeder Road and Albert Road, were submitted in April 2019 …
Brookfield expands into Australian PBSA market
Brookfield expands into the Australian student accommodation sector with its first investment in Melbourne – in a joint venture with Citiplan.
Global alternative asset manager – Brookfield – has made its first investment in the student accommodation sector in Australia, striking a joint venture with integrated property business Citiplan. The joint venture has acquired a purpose-built student accommodation (PBSA) development site directly opposite the University of Melbourne.
The acquisition of the initial site signals Brookfield’s acceleration into alternative real estate assets in Australia after it acquired seniors living business Aveo in 2019 …
Unite Students to dispose of 11 properties
Unite Students, the UK’s leading owner, manager and developer of student accommodation, today announces the disposal of a portfolio of 11 properties, comprising 4,488 beds for £306 million (Unite share: £236 million) to an affiliate of Lone Star Funds.
The disposal portfolio includes assets in Sheffield (1,700 beds), Reading (703 beds), Leicester (665 beds), Bedford (517 beds), Liverpool (390 beds), Birmingham (337 beds), Bristol (99 beds) and Leeds (77 beds), and has nomination agreements covering 46% of beds on short-term contracts. The disposal is part of the Group’s proactive portfolio management strategy, resulting in increased alignment to high and mid-ranked universities that deliver the greatest quality and value to students. It also sees the Group exit certain smaller, less operationally efficient assets in cities such as Bristol and Leeds.
The disposals are priced in line with prevailing book value, which reflects an NOI yield of 5.7%. The properties were treated as held for sale in the balance sheet as at 31 December 2021 and the disposal is incorporated into the Company’s guidance for EPRA EPS of 41-43p for the 2022 financial year, which remains unchanged …
819 bed Bedminster PBSA site acquired to meet accelerating demand in Bristol
Watkin Jones, the UK’s leading developer and manager of residential for rent homes, is pleased to announce the completion of the acquisition of Bristol-based developer Deeley Freed’s consented 819-bed purpose-built student accommodation (PBSA) development in Bedminster, Bristol.
The c£110m GDV BREEAM ‘Excellent’ scheme is sustainably located just five-minute’s cycle from the University’s new Temple Quarter Enterprise Campus and 100 metres from Bedminster Train Station and East Street’s shops, cafes and bars …
The Unite Group – Final Results
RESULTS FOR THE YEAR ENDED 31 DECEMBER 2021
Richard Smith, Chief Executive of Unite Students, commented:
“The business has seen a strong recovery in performance in 2021 and is well positioned for further growth due to our alignment to the strongest universities, an enhanced reputation thanks to our supportive actions during the pandemic and our best-in-class operating platform. We have ambitious goals for our environmental and social impact, as underlined by the recent publication of our pathway to net zero carbon by 2030.
“The outlook for the business and the UK Higher Education sector is strong, driven by rising participation rates, increased demand for our product from returning students, significant and sustained demographic growth and Government support for growth in international student numbers
“We have our biggest ever development pipeline and the balance sheet capacity to pursue new growth opportunities through university partnerships and targeted acquisitions. We are confident in our ability to attract more of the students currently living in the HMO sector and also see potential to extend our platform to cater to the growing number of young professional renters living in major UK cities. Together this underpins significant future earnings growth and attractive total returns for shareholders.” …
Xior invests €26M in a student residence in Granada
The Belgian group will promote a complex with 310 beds that will be managed by the operator Odalys for twelve years …