Amber Beat: Student Accommodation Market News - September 2024, Week 04

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 20-26

United Kingdom

• Sama Investment Group acquires two major student housing complexes in Sheffield and Wolverhampton, upgrading 808 beds (Source)
• Art-Invest Real Estate converts Dockside Canada Water Project to purpose-built student accommodation in London, featuring 730 beds and 75 affordable homes(Source)
• Urbium Capital opens Arcadian PBSA in Nottingham, featuring 293 high-quality living spaces with premium amenities and a WiredScore Platinum rating (Source)
• Moorfield Group completes £45 million BGU student village in Lincoln, featuring 293 beds for Bishop Grosseteste University students (Source)
• Aviva Investors acquires Glasgow PBSA Scheme for £23 million, featuring 99 fully let studios for 2024/2025 academic year (Source)
• KS4, Harrison Street, and CA Ventures top out Lisbon Street PBSA in Leeds with 548 units; set to welcome students for 2025/26 academic year (Source)
• Stelling Properties completes installation of 121 studio apartments at £12 million Southampton Regeneration Project (Source)
• Whitbread unveils redevelopment plans for Hotel Nelson in Norwich, featuring 243-room hotel, 491 student flats, and 75 residential apartments (Source)
• Cole Waterhouse proposes Trafford Wharf mixed-use development in Greater Manchester, featuring 419 PBSA beds (Source)
• Plans submitted for 307-flat student complex near Ulster University in Derry amid Magee Campus Expansion (Source)
• Plans for 40-unit student accommodation in a former nightclub in Plymouth, recommended for approval by City Council (Source)

United States of America

• Parallel completes 745-bed ‘Otto’ student housing project near Texas A&M University in College Station, Texas, featuring a range of floor plans and extensive amenities (Source)
• Brewery Creek Housing Apartments opens in Duluth, offering 52 affordable units aimed at young adults facing homelessness, with rents starting around $850 (Source)
• Dartmouth College announces $500M investment in student housing, launching 'Russo Hall' with 285 beds, set to open in fall 2026 in Hanover, New Hampshire (Source)
• University of Maine repurposes ‘Estabrooke Hall’ amid record enrollment, housing 3,576 students for the 2024-25 academic year in Orono, Maine (Source)
• UC San Diego opens $365M ‘Pepper Canyon West’ residence halls, featuring 1,310 beds across two towers in La Jolla, California, accommodating students for the fall quarter of 2024 (Source)
• Hoar Construction tops out Icon, a 30-story student housing project in Austin, Texas, featuring 555 beds, set to open for the 2025-2026 (Source)
• Landmark Properties opens ‘The Standard at Eugene’, a 703-bed student housing community with 247 units near the University of Oregon, Eugene (Source)
• Fountain Residential Partners plans a 252-unit, 596-bed student housing complex near UCF, set to break ground on the former New Life Church property in Orlando, with an anticipated closing in March 2025 (Source)
• Vesper Holdings acquires ‘Gateway at Denton’, featuring 696 beds in purpose-built student housing near the University of North Texas (Source)
• Hawkins Way Capital acquires Varsity Berkeley, planning to rebrand it as ‘FOUND Study Downtown Berkeley’, featuring 159 beds, set to begin in summer 2025 (Source)
• Winthrop University alumni transform former frat house into ‘The Coterie’, featuring eight luxury beds in a renovated off-campus housing project in Winthrop, South Carolina, USA (Source)
• JLL secures $52.7M construction financing for ‘Havens at Palm Bay’, a 266-unit build-to-rent project in Palm Bay, Florida, set to open in 2026 (Source)
• Greystar breaks ground on student housing project at Merrimack College, featuring 540 beds across two residence halls in North Andover, Massachusetts, set to open in Fall 2026 (Source)
• Bascom Group acquires ‘Old River Place’ for $56.6M, featuring 249 units in Bakersfield, California, enhancing their portfolio in a high-demand market (Source)
• Burnham Planning & Development to convert ‘Park Tower’ into 149 student apartments with 593 beds near California State University, set to begin in late 2025 (Source)

Australia

• University of Queensland invests $285M in a 1,000-bed student accommodation complex, set to open in Semester 2, 2027, on Walcott Street, Brisbane (Source)
• Cairns College of English & Business acquires ‘Cairns Kangarooms’, a premium student accommodation complex with 40 beds, enhancing its product portfolio in Cairns, as of September 2024 (Source)
• Landcom files plans for $30M climate-resilient build-to-rent project in East Lismore, featuring 50 apartments and five townhouses, set to begin construction in 2025 (Source)

Europe

• Amro Porto PBSA becomes Portugal’s first BREEAM ‘Outstanding’ New Build, featuring 151 bedrooms and 89% lower heating demand (Source)
• Germany’s Leipzig unveils 423 premium student apartments at Lumis Leipzig, with rents from €690 to €1199 per month (Source)
• Cyprus launches first student residence in Walled Nicosia with 380 rooms opening in November to revitalize the historic city (Source)
• Yugo opens 300-bed student residence in Granada,Spain, featuring studios with modern amenities and BREEAM Sustainability Certification (Source)
• France’s Le Cadran Solaire Student Residence opens in La Tronche with 106 apartments and a €17 million investment (Source)
• First Stone laid for 255-bed university accommodation in Moncada, featuring 232 apartments and living space, set to open September 2025 (Source)
• Echo Investment plans 5,000 student dormitories in Poland's Krakow, Warsaw, and Wroclaw to meet growing demand (Source)
• Invesco acquires Les Roches Hotel School student residence in Marbella, expanding European Portfolio to $2.8 billion with 34 townhouses for 176 students (Source)

Canada

Alignvest Student Housing REIT announces fair market values of $148.00 for Class F Units and $143.18 for Class A Units, along with a monthly distribution of $0.50 per Unit effective September 30, 2024, in Toronto, Canada (Source)