The Market Monitor Digest (week 14/2024)
It's our pleasure to be your go-to for the week’s key industry news. Thanks to the information collected by the BONARD Market Monitor team, you can now keep your finger on the industry pulse.
Student Housing & Co-Living
Spain: Medinvest and King Street join forces to invest €250 million in student residences
Author unknown, April 03, 2024
The joint venture will double the investment next year to become the third operator in the sector in Spain, with more than 6,000 seats.
Spain, Madrid: The unstoppable boom in the construction of student residences in Madrid
By Sara Medialdea, April 03, 2024
Experts point to investments of €600 million annually in this field.
UK, London: SAV Group bags £37 million refinancing for Kensington student scheme
By May Agaran, April 02, 2024
More House to provide 115 student bedrooms.
Europe: CPP Investments Acquires Nido Living and Establishes a Continental European Purpose-Built Student Accommodation Platform
Author unknown, April 02, 2024
Canada Pension Plan Investment Board (CPP Investments) today announced it has established a new real estate investment and operating platform focused on purpose-built student accommodation (PBSA) in continental Europe. CPP Investments is forming this platform through its acquisition of Round Hill Capital's minority stake in Round Hill European Student Accommodation Partnership (our existing joint venture), and the full acquisition of Nido Living, a leading European PBSA operator and manager. Through these combined transactions, CPP Investments is investing up to C$40 million in the platform.
Australia: MaxCap Targets PBSA as a Hedge Against Inflation
By Ralph Nicholson, April 02, 2024
Institutional investors are targeting Australia’s booming student accommodation sector, saying it remains a strong hedge against the country’s stubbornly persistent inflation. Commercial real estate investment manager MaxCap Group believes Purpose-Built Student Accommodation (PBSA) remains one of the best drivers of income growth among trading assets.
BTR
Australia: Green light for Lendlease’s $1.7 BLN project at Melbourne’s Queen Victoria Market
By Property Australia, April 3, 2024
Lendlease’s has been given the green light to transform the southern site of the Queen Victoria Market (QVM) precinct. Across three new buildings, Gurrowa Place will feature a 28-storey next-generation workplace, 560 build-to-rent (BTR) apartments with 80 affordable homes, and 1,100 student residences to be managed by Scape.
Germany: Rental yields on apartments continue to increase
By Thomas Daily, April 2, 2024
The gross rental yield of residential real estate increased by an average of 0.30 percentage points to 3.92% from the end of June 2023 to the end of January 2024 in the 30 top German cities. In more than one in three of these locations, the rental return for condominiums is already above the four percent mark, according to an analysis by the real estate financing broker
UK: Starlight Investments appoints Rund on three BTR schemes
By Bea Patel, April 3, 2024
The Michigan Avenue Build to Rent (BTR) scheme will deliver 391 new homes to Manchester in a mix of studio, one-, two- and three-bedroom apartments and town houses. Works started on site in March 2023 and the development is scheduled to complete in 2026.
UK: Legal & General to deliver SFH BTR homes with Chartway
By Bea Patel, April 3, 2024
Legal & General’s Suburban Build to Rent (BTR) platform (LGSBTR) and housebuilder Chartway Partnerships Group have announced the completion of their first housing deal. The agreement will deliver 92 new single-family Build to Rent (BTR) homes in the coastal community of St Leonards, Hastings.
Senior Living
Canada, Granby: Thanks to an innovative partnership, a building of 100 social and affordable housing units for independent seniors will rise in Granby
Author unknown, April 02, 2024
The governments of Canada and Quebec, together with Mission Unitaînés and the city of Granby, are announcing the construction of a project of 100 new social and affordable housing units over the next two years for independent seniors. The project should be completed in the spring of 2026.
France: Detached Renaître residence
Author unknown, March 29, 2024
The autonomous residence Renaître is intended for retirees aged 65 and over. The residence has 71 studios as part of a collective structure.
Germany, Hannover: Approved project for seniors in Gehrden near Hannover
Author unknown, April 04, 2024
Norddeutsche Wohnbau and HCRE Real Estate have received building permits for the "Care Living" construction project in Gehrden near Hanover. There will be 38 wheelchair-accessible apartments and a social center. A qualified service provider that has not yet been identified should offer elective care services.
Spain, Valencia: These are the new social housing in Valencia: available for young people and people over 65
Author unknown, April 01, 2024
The initiative of the Valencia City Council to allocate 36 vacant houses in the Safranar building represents a significant step towards access to affordable rentals for young people and the over 65s.
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