Amber Beat: Student Accommodation Market News - September 2023, Week 03

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 15- 21, 2023

United Kingdom

• Cain International secures £500 million forward-funding deal with Menora Mivtachim for 420-bed and 509-bed student accommodation projects in Manchester and Liverpool respectively by Fusion Group (PNW)
• Unite Students unveils its plan for £95 million PBSA development of 800 beds at Glasgow Central site, set to launch ahead of AY2026/27 (BEN)
• Joint Venture of Singapore-based QIP and London’s Hurlington Capital to develop £80 million PBSA with 298 beds in Woolwich, London, aiming for BREEAM Excellent and EPC-A ratings (IREI)
• Cockburn Association objects to 289-room plan at Edinburgh’s Holyrood area siting ‘over dominance’ of student housing, recommends needs assessment in student housing developments (Scotsman)
• Bricks Group and Tristan Capital partner up for £68m acquisition of 'Salford Two', a 457-bedroom development of the Discovery Quay student cluster in Falmouth, property to be operated under True Student (PNW)
• Perthshire-based ATK Property Group bags a multimillion-pound deal to acquire Keiller Court, a 125-bed student housing at Dundee’s Blinshall Street (BEN)

United States of America

• “Core Spaces” opens a new 475-bed off-campus student housing near the University of Maryland, comprising 161 fully furnished studios with top-tier amenities (RB)
• CMC Vail Valley opens the gates of a new $45 million student and staff accommodation with 144 apartments, comprising 36 affordable units (VD)
• San Diego Community College finalizes New Jersey-based “Michaels Organization” to develop the 800-unit Student housing complex, completion expected by early 2028 (TOSD)
• “Core Spaces” acquires a 641-bed student housing, “Clemson Lofts” for $77 million in Clemson, S.C. The 14-building property includes 232 apartments, located close to Clemson University (MHN)
• Villas Student Housing commences construction of a 30-storey tower with 670 beds near the University of Texas at Austin with completion anticipated by Summer 2025 (TRD)
• Capstone partners up with Boaz Ventures to break ground on “Nexus Homes”, a $60 million student housing facility near the University of Alabama Huntsville, planned to open in Summer 2025 (RB)
• Boise State University, Idaho begins development of a $58.5 million new student residence hall to accommodate 450 students, scheduled to open in August 2025 (KVTB)

Australia

• Barcam elevates the Macquarie Park student housing project in Australia, with an investment of $64 million, adding 499 apartments and enhanced amenities (UDP)
• Top fund manager PGIM Real Estate partners with Tribe Founders to pioneer co-living developments worth $750 million in Australia (CRE)

Europe

• Veidekke secures NOK 450 million contract to build 400-unit student housing in Kristiansand, Norway; construction to begin in October, to be completed by August 2025 (marketscreener)
• Record growth in private student dormitories expected in Poland with over 3,000 new beds to be added across four cities in 2023, amid rising demand and prices (managerplus)
• Swedish fund EQT Exeter expands student residence portfolio in Madrid's prime location, surpassing 4,500 accommodation places backed by €300 million investment (ejeprime)
• University of Mons unveils innovative student residence on Kennedy Boulevard in Belgium, adding 100 customizable modular rooms for students (lalibre)
• Merkel Capital unveils plans for a 293-room student residence in Armilla, Granada, boosting regional development and sustainable housing (brainsre)
• Student Depot launches second dormitory in Łódź, Poland, offering over 370 accommodation for local and international students (investmap)

Canada

• Cym Immobilier submits plans to construct a new six-story student home targeting additional 70 housing units to begin near Saint-Antoine and Saint-Jacques streets, awaiting zoning amendment (lavoixdelest.ca)
• Calgary City Council gains majority votes on comprehensive strategy to tackle the ongoing accommodation crisis, by planning new housing units and zoning. Additionally, a $25 million investment is to be allocated by the city towards post-secondary student housing (CBC)
• Canadian College assures housing for Indian student protesters, Trudeau aims to lower food costs (The Indian Express)