Market Monitor Digest (week 40/2024)
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Student Housing & Co-Living
UK, Bristol: Developer eyes brownfield land near Bristol Temple Meads for student accommodation
By BusinessLive, October 03, 2024
A plot of brownfield land near Bristol Temple Meads station could be transformed into a 374-bed student block under new plans. Developer Watkin Jones has set out proposals for the vacant site at 68-72 Avon Street, which would also include a commercial or community space, courtyard gardens and a gym.
US, Baltimore: Johns Hopkins Pays $32 Million For Apartments To Convert To Student Housing
By Bisnow, October 02, 2024
Johns Hopkins University's Peabody Institute, a music and dance school, has seen its enrollment grow by 40% over the last seven years, and the university is now buying up real estate to house its students.
Australia, Brisbane: Dexus, Marquette buy office for A$500 million Student housing conversion
By IPE, October 03, 2024
Basil Property Trust sells 41 George Street asset for A$120 million.
Italy: Kryalos launches €100 million student housing fund in Italy
By PropertyEU, October 02, 2024
Italian asset manager Kryalos Sgr has launched Mathelt, a new real estate fund focused on creating an investment platform for modern student housing.
Spain: Azora returns to student residences: it buys its entire portfolio from EQT for €500 Million
By El Confidencial, October 01, 2024
Azora returns to the student housing business with the launch of a new pan-European fund. The first operation will be the purchase of EQT's portfolio in Spain.
BTR
UK: Wavensmere Homes get approval for €180 MLN residential development
By Property EU, September 27, 2024
UK real estate company Wavensmere Homes has been given the go-ahead from the City of Wolverhampton for a €180 MLN housing project. It will include 378 energy-efficient homes with two or three bedrooms and 145 one- or two- bedroom apartments. There will also be 10 co-living units designed for young professionals.
Australia: Ontario Teachers, Hines buy two BTR projects in Brisbane for $350 MLN
By The Urban Developer, September 24, 2024
A render of Sentinel's proposed build-to-rent (BTR) project in North Melbourne. Sentinel Plots will include 363-apartment building in North Melbourne.
Germany: More than 1,000 apartments are missing in Kaiserslautern
By SWR, September 26, 2024
There is a need for cheap and subsidized housing not only in Kaiserslautern, but also in other places in the west of the Palatinate. Social housing projects should improve the situation. For example, Bau AGin Kaiserslautern offers cheap apartments in Kaiserslautern. According to their own information, their main task is to provide affordable housing. According to their information, there is currently 1,100 apartments in Kaiserslautern, including mainly cheap apartments.
Spain: Seville triples the production of housing in the city up to 6,000 units
By Eje Prime, September 30, 2024
Seville has tripled its annual housing production rate to almost 6,000 annual units between 2021 and 2024, compared to an average of 2,000 in the previous ten years. This growth in the residential market, together with a more diverse supply and the increase in available land, has moderated the rise in housing prices, increasing by 5% in 2024, compared to 7% the previous year.
Senior Living
US: Diversified Healthcare Trust Announces Sale of 18 Triple Net Leased Senior Living Communities to Brookdale for $135 MLN, or $154,000 per Unit
By Business Wire, September 30, 2024
Diversified Healthcare Trust today announced it has entered into a purchase and sale agreement with Brookdale Senior Living Inc. Whereby Brookdale will acquire 18 triple net leased senior living communities that Brookdale currently leases from DHC for $135 MLN. Brookdale has leased and operated these 18 communities since February 2003. The 18 communities include 876 unitslocated across 10 states serving primarily assisted living residents as well as memory care residents. DHC intends to use the proceeds from the transaction to pay down its $941 MLN of senior secured notes due January 2026.
US: Brookdale Senior Living to acquire 41 communities for $610 MLN
By McKnights Senior Living, September 30, 2024
Brentwood, TN-based Brookdale Senior Living will acquire 41 communities for $610 MLN, the company announced Monday morning. The transactions, involving a total of 2,789 units, were privately negotiated and occurred off-market, Brookdale said. After the deals close, Brookdale will own 66% of its consolidated units, aligning with its goal of increasing its owned real estate portfolio.
The Netherlands: Start of construction of the first 44 homes on the former Flevomanege site
By Dedrontenaar, October 01, 2024
Last week, construction company Trebbe gave the go-ahead for the construction of 14 apartments for seniors, 16 back-to-back houses and 14 courtyard houses in the new Zuiderweide district. This is a new neighborhood, located on the former site of the Flevomanege on De Zuid in Dronten.
US: Senior Living Investment Brokerage closes sale of 50-unit memory care facility in Maplewood
By REjornals, September 30, 2024
Senior Living Investment Brokerage facilitated the sale of Elk Ridge, a memory care facility in Maplewood, Minnesota. Elk Ridge consists of 50 units and 66 beds and was built in 2018.
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