Amber Beat: Global Student Accommodation Market News - April 2024, Week 01

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Missed keeping track of all the latest happenings in the student accommodation market?

Amber Beat is a weekly snapshot of the key developments in top student accommodation markets.  This newsletter provides you with all the information you need to know, from new upcoming projects to current trends, news affecting students to government policies, we’ve got you covered!

Amber Beat | News from March 29- April 05

United Kingdom

• Scottish Opera unveils ambitious mixed-use development plan with 700 student rooms at new Rotterdam Wharf site in Glasgow (1)
• YTL Developments break ground on massive 1,514-bedroom student accommodation project in Bristol's Brabazon neighbourhood (2)
• Unite Students to introduce mixed-use development in Scotland, including 298-bed student accommodation, BTR homes, and affordable apartments (3)
• Schroders Capital unveils plans to transform Maggs House into 127-room student accommodation, located short walk from the University of Bristol's main campus (4)
• New Social Hub revolutionizes student housing experience in Glasgow with 245 state-of-the-art rooms set to officially open on 12th April (5)
• Plans submitted for Haringey Council to convert former Tottenham nightclub into 25 student flats with 35% designated as affordable housing component (6)

United States of America

• GFH Partners announces adding new 1300 beds worth $300 million to its student housing portfolio between the fourth quarter of 2023 and the first quarter of 2024, located near top-tier universities (7)
• California State University, Long Beach breaks ground on ‘La Playa Residence Hall’, a 424-bed student housing facility costing $115 million with completion scheduled for summer 2026 (8)
• University of Hawai‘i is a year away from completing its second successful P3 to develop modern student housing facilities comprising 550 beds on the UH Mānoa campus, worth $170 million, scheduled to open in fall 2025 (9)
• University of Tampa announces plans for its largest building, a 10-story skyscraper to house more than 600 students, with construction scheduled to begin in May 2024 (10)
• Stetson University reveals plans to break ground this summer on a new 305-bed residence hall, scheduled to open in 2026 (11)
• 'The Doubletree' by Hilton Hotel is set to be demolished, and 'Core Spaces' intends to replace it with a 12-story, luxury student housing complex expected to house 2000 North Carolina State University students (12)
• The Scion Group and PGIM Real Estate JV secures $83.4 million from a Quadreal Property Group subsidiary and refinances ‘VERVE’, a 181-unit premium student housing facility located near the Rutgers University in New Brunswick (13)
• Madison Realty Capital lends $55 million to a JV between Charney Companies and Criterion Real Estate Capital to buy and redevelop Morningside Heights dorm near Columbia University into a luxury student housing facility (14)
• Marcus & Millichap brokers the sale of ‘Campus Lodge’, a 19-building student housing community accommodating 768 students, located near the University of Oklahoma campus, Norman (15)

Australia

• Lendlease receives approval for a $1.7 billion project adding 560 apartments and 1100 student residences to Melbourne's Queen Victoria Market (16)
• CBRE projects Australia to add 8000 purpose-built student accommodation (PBSA) rooms between 2023 and 2026, making PBSA one of the best trading assets for income growth (17)

Europe

• Madrid's student residence construction surges with €600 million annual investment, adding 10,200 places by 2026 (18)
• Morgan Stanley Real Estate acquires 624-bed Spanish student residences from Vita Group for €150 million (19)
• CPP Investments expands into continental Europe's student accommodation sector with C$40 million platform, acquiring Nido Living and Round Hill Capital stake (20)
• Medinvest and King Street JV to invest €250 million in student residences, doubling presence in Spain's housing sector to over 6,000 beds (21)
• Dentons advises 1 Asset Management (AM) on €50 million investment for student housing project in Warsaw, acquiring two buildings from Futureal Group for 650 rooms (22)

Canada

• In a joint venture between Scion Group, Singapore General Investment Corporation and the Canada Pension Plan Investment Board, Scion Student Communities refinances 11 student housing properties located across eight states for $380 million (23)
• Canada, Waterloo Centurion Property Associates Limited propose to build a seven-storey building, with 22 bedrooms and 11 apartments being added to an existing building and 24 apartments with 78 beds to be constructed in the new building (24)
• P.E.I. government released $75K for student-led housing assessments with the intent of getting an in-depth understanding of the housing needs of domestic and international students (25)

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Sources: ( (1), (2), (3), (4), (5), (6), (7), (8), (9), (10), (11), (12), (13), (14), (15), (16), (17), (18), (19), (20), (21), (22), (23), (24), (25))

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