Market Monitor Digest (week 43/2024)

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.

October 25, 2024 BONARD Market Monitor team

Student Housing & Co-Living

US, Berkeley: $36 Million Loan Issued for UC Berkeley Student Housing  

By Multi-housing news, October 23, 2024

JLL Capital Markets secured $36 million in acquisition financing for Hawkins Way Capital to acquire Varsity Berkeley, a 79-unit308-bed student housing property near the University of California at Berkeley campus that changed hands for $46.3 million.

Read More (multihousingnews.com)

US, Cincinnati: UC’s board of trustees approves $275 Million for massive housing development, total project cost rises 

By Cincinnati Business Courier, October 22, 2024

The University of Cincinnati has tripled the original projected cost for its Block 1 & 2 development after voting to spend $275 million for construction.

Read More (bizjournals.com)

US, Syracuse: Syracuse loses nearly 600 hotel rooms, while gaining housing for residents, students 

By CNY Central, October 22, 2024

The Sheraton hotel at Syracuse University and its 232 hotel rooms is now being converted to student housing.

Read More (cnycentral.com)

UK, Edinburgh: Edinburgh University to spend £6.9 million refurbishing shabby accommodation block home to almost 250 students  

By The Scotsman, October 21, 2024

Edinburgh University is planning to spend £6.9 million on a revamp of one of its biggest student accommodation blocks.

Read More (scotsman.com)

UK, London: Developer gets green light for shared living project

By World Construction Network, October 22, 2024

The development will include 517 co-living studios and amenity spaces, along with 100 affordable homes.

Read More (worldconstructionnetwork.com)

BTR

Croatia: Croatia plans to build 8,000 new apartments and rent them out cheaper

By Free press, October 21, 2024

On Friday, Minister Branko Bacic presented the National Plan for Housing Policy until 2030. Bacic emphasized that 40% of the housing stock in Croatia, i.e. 958,000 apartments, would not be used for residential purposes. As a result, real estate prices and rents rise significantly and demand is greater than supply. At the same time, up to 231,000 apartments have been converted for short-term rental in tourism.

Read More (slobodenpecat.mk)

Spain: Sareb opens the tender to build 58 affordable rental homes in the Balearic Islands

By Economia de Mallorca,  October 18, 2024

Sareb has launched the tender for the first phase of the 'Vienna Project', of 460 MLN planned investment, so that interested parties can present their offers for the construction of 3,770 affordable rental homes in fifty lands ceded by the company for eighty years. This phase of the plan will affect the Balearic Islands with the tender of 58 homes located on two floors.

Read More (economiademallorca.com)

UK: Investment manager launches £150 MLN single-family housing strategy

By The Business Desk, October 15,  2024

Kettel Homes has launched a £150 MLN single-family rent-to-own strategy, focussed on homes across the Midlands, Yorkshire and the North West. The investment manager is set to purchase two, three and four-bed single-family rental homes in these areas over the next 18 months through its Kettel Investment Management arm, with an ambition of supporting households with annual household incomes of £35-75K to get on the housing ladder.

Read More (thebusinessdesk.com)

Spain: Sepes announces 11 new projects with 650 affordable rental homes

By Idealista news , October 21, 2024

Sepes has indicated that these actions are attached to the MIVAU-Sepes agreement for the Affordable Rental Housing Plan (PVAA), and add up to a total of 17,500 homes distributed in 29 developments. Of these, 650 belong to the new actions, while the most outstanding operation of the entire plan is the Madrid Camp Operation, which brings together 10,700 units (61.1%).

Read More (idealista.com)

Senior Living

France: 460 new homes for seniors are coming out of the ground in Agen

By La dépeche, October 16, 2024

With 8,000 seniors over 60 in Agen, including 1,781 people aged 80 and over, and an increase of 10% in six years, the demand for collective housing accommodation is strong in Agen. The elected official indicates that a total of 460 homes run by private individuals will be build.

Read More (ladepeche.fr)

US: Mesa West Capital Provides $57 MLN Refi for Luxury Senior Community

By Multi-housing news, October 22, 2024

The joint venture of AEW Capital ManagementThrive Senior Living and Pike Construction has received $57 MLN for the refinancing of Thrive at Montvale, a 203-unit luxury senior housing community in Montvale, N.J. Mesa West Capital provided the five-year, floating-rate loan. Earlier this month, AEW also secured a $114.6 MLN refinancing deal for two senior housing communities in Malvern, Penn., and Kensington, Md. Mesa West Capital provided those floating-rate loans as well.

Read More (multihousingnews.com)

France: More than 100 homes will be created in this district of Dieppe

By Actu, October 19, 2024

On the Janval side, in Dieppe (Seine-Maritime), two real estate projects will be created in the coming years. There is that of Logeo Seine, which provides 32 social housing units and that of the lessor Logeal Immobilière. The second is the most substantial: 102 dwellings will be distributed in several buildings. The lessor acquired the land from Louis-Fromager Street to the Alpine roundabout. The ambition is to welcome the elderly and couples.

Read More (actu.fr)

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