Market Monitor Digest (week 51/2024)
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Student Housing & Co-Living
UK, Edinburgh: Firethorn Trust secures £30 million for Leith student flats
By Insider.Co.Uk, December 19, 2024
Commercial property investor, developer and asset manager Firethorn Trust has secured a £29.95 million debt package from Leumi UK to deliver its first purpose-built student accommodation scheme. The financing will support the delivery of a 230-bed project in Leith, which Firethorn acquired in February.
UK, Glasgow: Glasgow Charing Cross £250 million revamp given go-ahead
By BBC, December 18, 2024
The £250 million transformation of the Charing Cross area of Glasgow has been given the go-ahead. The project including new homes, student accommodation, hotel space and local services has been approved by Glasgow City Council.
UK, Liverpool: CDL Hospitality Trusts ventures into student accommodation with £37.3 million UK deal
By The Business Times, December 19, 2024
CDL Hospitality Trusts is venturing into the student accommodation business for the first time, with the purchase of a purpose-built student accommodation (PBSA) in Liverpool, United Kingdom.
Europe: Student housing is now ‘an institutional investment product’
By Realasset Insight, December 18, 2024
Student housing is also “much more scalable” than some alternative asset classes such as data centres, said Julia Oravec, rented residential director at Bonard. “Last year, the number of portfolios grew by 15% in terms of numbers, and we see a low-digit increase so far this year as well.” Investors with over 10,000 beds are not ready to sell, but continue to consolidate and expand their portfolios, she said. “The trend in Europe is now similar to more mature countries like the UK, where the market is also still consolidating and growing.”
Netherlands, Eindhoven: City council invests €1.5 million in accelerating construction of student housing
By Studio 40, December 18, 2024
The municipality of Eindhoven is going to set aside €5 million for the acceleration of the construction of student housing in the city. The board of mayor and aldermen has agreed to this at the initiative of the municipal council.
BTR
Germany: Nrep and aam2core launch green German multifamily JV
By Property EU, December 17, 2024
Urban Partners’ real estate investor Nrep has entered into a strategic joint venture focused on the German residential rental market with Frankfurt-based asset and investment manager aam2core Holding. The 300 € MLN joint venture will cover the selective acquisition, modernisation and operation of rental assets across demographically attractive German cities and fast-growing metropolitan regions, in particular the seven most populous cities.
The Netherlands: Woonforte is building 173 apartments in Alphen aan den Rijn
By Property NL, December 17, 2024
Housing corporation Woonforte is building 173 rental apartments at the Noorderkeerkring in Alpen aan den Rijn, of which 47 are care apartments.
Germany: Sahle builds 400 apartments in Cologne
By WN, December 13, 2024
Projektentwicklungs GmbH & Co. KG (Cologne) sold a total of 28,000 square metres of land to the Sahle Wohnen group of companies from Greven. The purchase price was not disclosed. According to its own statement, Sahle is planning a total of around 400 residential units in publicly subsidized housing construction in the four construction phases of the new residential quarter.
UK: Ballymore submits two plans for 3,700 East London homes
By Construction Enquirer, December 16, 2024
Developer Ballymore has submitted two major hybrid planning applications for riverside sites in east London that would deliver nearly 3,700 new homes. Proposals for the Thames Road and Knights Road schemes near the Royal Docks have both been submitted as hybrid applications for approval to Newham Council.
Senior Living
Germany: Cureus develops nursing homes for the Vitanas Group
By Thomas Daily, December 16, 2024
The cooperation between Cureus and Vitanas will kick off with a replacement building for the existing Am Schäfersee senior citizens' centre in Berlin.
US: IRA Capital Expands Senior Housing Platform with $40M Colorado Acquisition and Key Leadership Hire
By Accesswire, December 12, 2024
In addition to the recent Capstone acquisition, IRA has bolstered its leadership team with the onboarding of Andrew Ciarfalia as Vice President of Asset Management to support IRA's growing senior housing portfolio. Andy has over a decade of experience at Sunrise Senior Living, where he held leadership roles in asset management and financial planning. In his new role, Ciarfalia will focus on optimizing IRA's senior housing asset management capabilities and driving the firm's continued growth in the sector
Indonesia: As the world ages, Indonesia sees business opportunities
By ANN, December 16, 2024
Indonesia’s senior population is projected to reach 74 million by 2050, or about 25 percent of the total population. According to the Statistic Indonesia’s (BPS) National Socioeconomic Survey (SUSENAS), Indonesia currently has 29.7 million elderly, making up roughly 10.75 percent of the population.
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