Market Monitor Digest (week 47/2024)
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
UK, Cardiff: Shawbrook provides development finance for first coliving scheme in Wales
By Urban Living News, November 20, 2024
Shawbrook has provided developer Urban Centric with a £23.8 million loan to fund the conversion of a Cardiff office block into 203 coliving units.
UK, London: Hundreds of co-living homes set for former industrial site in Brixton
By London News Online, November 20, 2024
Hundreds of new co-living homes are set to be built after plans were given the green light by the council. Lambeth council approved plans submitted by investment firm Mitheridge, developer LGL and PLP Architecture, to build a co-living development on the site of a former industrial yard in Brixton. Hardess Yard will include 320 co-living studios and 1,400sqm of floor space for small businesses from Brixton.
US, Boston: $58 Million Loan, Refinancing the Popular Coliving Apartment Building in Allston
By Boston Real Estate Times, November 19, 2024
FAM Asset Management, Arx Urban, and Boylston Properties, announced that they closed on a $58 Million loan from Aareal Bank to refinance 525 LINC, a coliving development in the Allston neighborhood of Boston that opened its doors in January 2024. 525 LINC includes 80 coliving suites and studios, equaling 279 rentable bedrooms, in a mix of studios, 3-and 4-bedroom suites.
Germany, Flesburg: New student residence opens in Flensburg
By NDR, November 18, 2024
A new student dormitory was opened on Monday afternoon on the campus of the European University in Flensburg. According to the Schleswig-Holstein Student Union, 159 students will find a new, affordable roof over their heads here at the beginning of February 2025.
US, Myrtle Beach: $40 Million housing project for international students breaks ground in Myrtle Beach
By News 13, November 17, 2024
A $40 million housing project designed to support international students is under construction in Myrtle Beach, aiming to alleviate seasonal housing shortages and sustain the area’s tourism industry. The facility, located on Mr. Joe White Avenue, is expected to open its first building by April 2025, just in time for the summer season. When completed, the development will feature five units capable of housing up to 1,572 students.
BTR
Denmark: Niam to invest over € 600 MLN in BTR projects in Denmark
By Property EU , November 15, 2024
Nordic real estate manager Niam aims to invest € 600 MLN in BTR projects in Denmark over the coming years. Kronhusene has already delivered approximately 200 residential units and has another 800 units under construction across Denmark, with plans to develop over 2,500 units in the coming years.
UK: 1,000-home Wolverhampton city centre scheme in for planning
By Construction Enquirer, November 18, 2024
The ECF partnership between Homes England, Legal & General and Muse has submitted a hybrid planning application for a 1,000-home scheme in Wolverhampton city centre. In partnership with the city council, ECF has put forward detailed plans for phase one of City Centre West, which includes over 330 homes and retail space on disused land between Peel Street and Market Square. The submission also includes outline plans for the remaining phases of the 1,000 homes.
UK: Leeds on the Rise: Ardent Capital’s £200 MLN Build-to-Rent (BTR) Debut
By Bdc magazine, November 18, 2024
Ardent Capital Partners has marked its first foray into the UK property market with a landmark £200 MLN investment in a transformative build-to-rent (BTR) development in Leeds. This ambitious project is a significant milestone in the city’s regeneration, reaffirming Leeds as a hotspot for modern urban living. Set on the former site of the Leeds International Swimming Pool, the development will deliver 578 cutting-edge rental apartments to the heart of the city. Valued at approximately £200 MLN, the scheme is poised to redefine Leeds’ city centre, catering to the growing demand for quality, centrally located rental homes while expanding the city’s vibrant core.
Spain: Coral Homes sells a portfolio of projects for rent throughout Spain valued at 40 MLN €
By Eje Prime, November 18, 2024
Coral Homes has launched a portfolio of more than 70 residential projects with an approximate value of € 40 MLN. This portfolio consists of initiated promotions, each of them in different phases of development, which are known in the market as WIP (ongoing promotion) and that, according to the entity, are suitable for use, once they are finished, for the rental market, reports El Economista.
Senior Living
Germany, Weir: Demolition and new construction for seniors: What the Citizens' Foundation plans for the long term
By Sud Kurier, November 18, 2024
The Wehrer Citizens' Foundation has major projects coming up. New senior citizen apartments are to be built in place of the building at Höfstrasse 21. Over the next ten years, the community foundation plans to expand its facilities for assisted living for seniors. A building will be demolished for this purpose.
Spain, Jerez: Apartments for senior citizens in the former Red Cross clinic
By Diario de Jerez, November 19, 2024
The Cadiz-based company Grupo Tribu, which has several hotels, tourist apartments and a restaurant in different parts of the province in its portfolio, will build a 'senior living' on the land of the former Red Cross clinic, a historic medical centre that was demolished more than a decade ago. They will build 55 apartments there that will be rented out and where people over 55 years of age will be able to live.
Canada, Calgary: Bethany Plans Sprawling Small-Home Concept to Attract Tomorrow’s Senior Living Residents
By Senior Housing News, November 19, 2024
The central and southern Alberta-based senior living provider Bethany Care Society operates 11 care homes and 15 senior living properties serving over 2,000 older adults across the continuum from independent living to skilled nursing. Its latest project in Calgary, Alberta, is slated to span 420 beds and include multiple small-home concepts in a big-box wrapper.
LATEST INDUSTRY NEWS IN YOUR MAILBOX
Stay informed via our
Daily Market Monitor
Tap into a personalised daily digest of recent developments, investors' plans, asset openings and transactions in rented residential asset classes.
DISCLAIMER: The intention of the Media Monitoring (hereinafter referred to as “service”) is to inform about the most recent developments in the global student housing asset class through the collection, review, and dissemination of media releases published by third parties. The service does not claim any intellectual property of the original or interpreted sources. By using this service, you grant your consent with the following terms of use and caveats:
Content retrieved from sources which require paid access is not available due to legal reasons, apart from part(s) which are public, or parts which are transposed from the main source and otherwise available.
In accordance with good manners, journalists´ ethic, and source-tracking, the service state the name of the author, article URL source, and date of publication, as usual. At the end of daily monitoring records, the default source website, used for search in the actual edition, is offered.
Articles are searched for and selected from verified and reliable sources. The service may not be held responsible for the content of the source or any action(s) taken on the basis of the information provided.
Texts from other than English-medium sources are translated automatically – the service does not guarantee flawless translations.
The service offers the most recent information at the time when the scan of inputs was done. Time delays may occur due to different time zones. Scans conducted are based on Central European Time (CET).
The service offers publicly available and visible information as well as information, which is possible to trace and gather via publicly available and possible means.