Amber Beat: Student Accommodation Market News - September 2023, Week 02

About Amber Beat

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 September 08- 14, 2023

United Kingdom

• Erasmus Student Network UK survey finds accommodation scarcity, rising cost, and post-Brexit implications are impacting the mobility of international students to the UK (Pie news)
• Unite invests in Glasgow student accommodation portfolio with a £95 million, 800-bed property acquisition in central Glasgow (SC)
• “Together” lends a multi-million-pound loan for the purchase of an 850-bed student accommodation portfolio in Aberdeen and Dundee (SHN)
• A survey by Jisc observes, 83% find online learning convenient yet 64% of students attended on-campus classes for AY 22-23 (Erudera)
• Hampshire Trust Bank enters UK’s PBSA investment lending market with up to 75% LTV and 125% gross interest cover ratio due to strong market demand  (MPAMAG)
• Tab survey reveals 26% of Edinburgh students struggle to secure housing for the upcoming academic year amid housing shortage (thetab)
• Future Generation joint venture lists 344-bed Steel City PBSA in Sheffield for sale as a part of a 2,049-bed student accommodation portfolio; property estimated to generate £20.7 million gross operating income for AY 23-24 (YSP)
• Dominus seeks funding partner for £200 million, 1,014-bed student accommodation tower in Manchester, a joint venture with Whitbread (BL)
• Alumno's Leeds student accommodation 'Terry Frosting' opens with 400 beds (TBD)
• “Harrison Developments” plans £100 million mixed-use development with 120 homes in Leith's Ocean Point 2 in Edinburgh (SH)

United States of America

• Kennesaw State University announced the development of "Summit II," a $50 million student residence hall that would house up to 600 students and is expected to commence in the Fall 2026 semester (WSBTV)
• California Governor, Gavin Newsom signed a bill, favoring universities to build more housing facilities for students. Also stated, “People are not pollution” and the officials supported this by explaining the state has invested $4 billion in grants to fund new affordable student housing (KTLA)
• Berkeley City Planning Commission approved raising the building height limits for the upcoming projects, allowing them to exceed up to 12 stories with 2,500 new units to be built on the south side of the city if affordable housing is developed (CBS)
• The Metropolitan Planning Commission of Savannah has approved the plan for 200+ SCAD dorms in Savannah after a few important alterations (WTOC)
• As a move for KSU’s expanding portfolio, BWE has secured acquisition financing for ‘The Beacon’, a 456-bed student housing facility located just half a mile from KSU’s campus (CCRE)
• The board's plan to demolish the old residence hall and replace it with a new one with 200 beds at a whopping $24 million, students at the University of North Alabama - unhappy (WAFF)

Australia

• Blackstone makes debut in Australian student housing market, acquires Brisbane-based Student One for $322 million, expanding global portfolio to 2,300 beds (Realassets)
• Australia's student accommodation market faces a critical shortage crisis with a 7% supply increase insufficient for visa surge, over 648,700 international student enrollments in 2023 (Smh)
• International student arrivals in Australia show a remarkable surge in July with over 60,000 more students compared to the previous year (Erudera)
• Australia to discontinue Pandemic Event Visa (408 Visa) for international students in February 2024, amid tightened Immigration Policies (ICEF)

Europe

• Ireland Strategic Investment Fund (ISIF) commits €75 million to Harrison Street for a 623-bed student accommodation project in Cork, Ireland, as a part of €500 million Regional Investment Plan (IE)
• Prime Minister António Costa inaugurates new student residence at U.Porto, part of the National Plan for Higher Education Accommodation, providing housing for 54 students (noticias)
• Over 500 Sligo ATU students are left without housing as purpose-built accommodation shifts to the private rental market, urgent appeal for alternative options (IIE)
• Greystar expands its portfolio in France with the acquisition of a 650-bed student residence in Puteaux, France, adding to 4,710 beds across major student cities (Realassets)
• Nido, a global student residence operator, expands its portfolio in Spain with a 501-bed facility in Pozuelo de Alarcón, Madrid, meeting the rising demand for university housing (Brainsre)
• Baker McKenzie consults Merkel Asset Management on financing a 374-bed student residence in Sabadell, Barcelona, opening in September 2024 (Lawyerpress)
• Aticco Living plans to launch three co-living projects with over 300 rooms in Valencia, Spain by 2025, amid growing demand for innovative student housing solutions (Vplaza)
• Student residence “New Odalys Campus Artem” opens in Nancy, France, offering 73 fully equipped studios starting at €500 per month (Capcampus)

Canada

• Humber College partners up with Spaces Shared to ease the housing crunch by pairing over 500 students with senior citizens (CBC)

• A newly constructed, secure purpose-built rental building in Metro Vancouver to be turned into 800-bed student accommodation (Dailyhive)
• Thompson Rivers University's fall student housing project delays 148 new beds in modular building (CFJC)

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