Market Monitor Digest (week 41/2024)
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Student Housing & Co-Living
Europe: European Investment Fund, backed by InvestEU, supports housing for up to 3,500 students in Central-Eastern Europe
By European Investment Fund, October 11, 2024
Poland, Czech Republic, Slovakia and Baltic States to gain student accommodations after EIF throws its weight behind fund run by 1 Asset Management. EIF commitment of €50 million paves way for new housing for up to 3,500 students. The investments will start immediately as CEE Student Housing Fund has already secured the pipeline, begun financing and the construction of student housing projects to accommodate 1,800 students in the Polish cities of Warsaw, Wrocław and Gdańsk. Four buildings – two in Warsaw, one in Wrocław and one in Gdańsk – are due to be constructed in 2025-2027.
UK, London: Unite Students to build iconic property in East London
By Unite Students, October 10, 2024
Unite Students has acquired a key site in Stratford, East London, after receiving full planning approval to build a 952-bed property. The 41-storey tower will include roof terraces and state-of-the-art facilities including a gym, and will open for the start of the 2028/29 academic year
UK, Glasgow: Student flats plan for Glasgow university campus
By Insider.co.uk, October 11, 2024
New student flats are planned as part of the redevelopment of the University of Glasgow’s western campus. A scheme submitted to Glasgow City Council revealed 460 student bedrooms would be created — and a 1990s extension to the B-listed Anderson College would be knocked down.
Spain, Madrid: This is the new residence that the "king of students" opens in Madrid
By El Economista, October 10, 2024
As its name suggests, the residence is located in the Chamartín district, in the north of the capital, and has a surface area of 11,300 m2 and 320 beds. These are distributed in single and double studios, all with their own kitchen . In addition, among the different accommodation options, Resa Chamartín also has 28 cluster places (shared and private spaces) for 4 people, with a total of 30 m2 of common rooms, and 24 places for 6 people with 65 m2 of shared space.
France, Vannes: The Crous could build 150 student studios in Vannes
By Ouest France, October 08, 2024
Half of the accommodation in the only university residence managed in Vannes (Morbihan) by the Crous will be renovated. 150 studios could be built in place of the Kercado university restaurant. The latter would be transferred, near the IUT.
BTR
Italy: Partners to acquire €260 MLN resi portfolio in Milan
By Property EU, October 08, 2024
Partners Group has agreed to acquire a portfolio of prime residential properties in Milan, from Fondo Pensione Cariplo. The portfolio has a Gross Asset Value over €260 MLN, including a significant Capex programme. It consists of six standing assets with 590 units that have a Net Leasable Area of more than 50,500 m2.
Spain: Azora acquires 250-home BTR development in Madrid
By Property EU, October 09 2024
Azora has acquired a new BTR development of 250 homes in Valdemoro, Madrid, from the French developer Emerige on behalf of its Nestar BTR platform. Financial details were kept confidential. The development comprises 150 two-bedroom and 100 three-bedroom homes, all of which are already on the market and fully equipped kitchen and bathroom, air conditioning, and a terrace.
UK: PLATFORM_ and HGP form £150 MLN JV to deliver Leeds BTR
By Property Magazine, October 11, 2024
Build to Rent (BTR) developer and operator – PLATFORM_ – has formed a £150 MLN joint venture with Lloyds-backed equity investor – HGP – to deliver 451-apartments at the Sweet Street Build to Rent (BTR) scheme in Leeds.
Australia: Lendlease, Nippon Steel Kowa Team Up for Melbourne BTR
By The urban developer , October 08, 2024
NSKRE will partner with Lendlease on a $500 MLN build-to-rent (BTR) project at 899 Collins Street in Melbourne’s Docklands. It will take a 40% equity share in the project with the move, which is its entry into the Australian market after experience developing and leasing offices and selling condominiums in Japan.
Senior Living
Germany: A new senior residence is being built in Hünstetten-Wallbach
By Wiesbandener Kurier, October 06, 2024
The new senior citizens' residence is being built in the Hünstetter district of Wallbach. A total of 22 barrier-free condominiums are planned.
Switzerland: Lutherbach want to be prepared when society get older: 60 zo 120 new apartments are to be built
By Solothurner Zeitung, October 07, 2024
The municipal councicl of Lutherbach want to promote a project for generation living. Lutherbach also wants to be prepared when society get older: 60 zo 120 new apartments are to be built.
US:Benchmark at Rye to add 70 assisted living apartments for seniors
By Seacoastonline, October 04, 2024
Seventy new assisted living apartments for senior citizens will be added to the Route 1 community, which currently includes an outdoor courtyard, a walking path, hair salon, wellness center, a recreation room, dining room and communal living room. The two-story addition will feature a mixture of apartment sizes, including 24 studio units with one bathroom each, 38 one-bedroom, one-bathroom apartments and eight two-bedroom, two-bathroom apartments, according to the company.
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