Unite swoops for Empiric with £710.6m takeover bid
Empiric’s board confirmed it had received a non-binding proposal from Unite on 7 May …
PBSA moves ahead of multifamily to top European real estate investor sentiment
Purpose-Built Student Accommodation (PBSA) has overtaken multi-family as the highest priority target sector for European operational real estate investors, according to new research.
The third annual survey conducted by Savills and Savills Investment Management saw PBSA top the list of asset classes for the first time. for the first time.
The report polled respondents who collectively have almost €720 billion of real estate assets under management (AuM).
The highest priorities for the investors surveyed are:
• PBSA – 62% (63% last year)
• Multifamily – 57% (84%)
• Single Family – 41% (49%)
• Senior Living – 41% (29%)
• Coliving – 35% (39%)
• Care Homes – 35% (16%)
Unipol appoints experienced student housing leader as CEO
Unipol has announced the appointment of Sam Bailey-Watts as its new Chief Executive Officer. A highly experienced leader in the UK student housing sector, Sam brings his experience of over 30 years, having held senior strategic roles across both university and commercial settings …
Global PE firm backs major PBSA near the University of Warwick
Global private equity firm KKR has agreed to forward fund a 544-bed purpose-built student accommodation (PBSA) scheme near the University of Warwick. KKR and its European living sector platform, Inhabeo, have backed the six-storey development, named Progress House. PBSA developer Gilltown and main contractor Winvic will deliver the scheme on Westwood Way, replacing an existing office building on the edge of Westwood Business Park. It will include a 4,000 sq ft commercial space on the ground floor, alongside study space …
Greystar and Nrep Finalize Student Housing Portfolio Deal
Greystar a global leader in the investment, development and management of rental housing, has announced its entry into Denmark with the acquisition of a 1,758-bed student housing portfolio in Copenhagen from Urban Partners’ real estate arm, Nrep. The transaction marks Greystar’s debut in the Nordic region and its eighth European market.
The sustainable portfolio, developed and operated by Nrep, comprises four newly constructed purpose-built student accommodation (PBSA) assets in prime student districts: Amager, Nordhavn, Valby, and Frederiksberg. The four operational properties provide Greystar with immediate operational scale and a strong foundation in one of Europe’s attractive student cities …
Green light for 700-bed St Andrews student accommodation
Scotsman Developments Ltd has been granted planning permission to create 703 more student bedrooms at the former Madras College in St Andrews.
Designed by Halliday Fraser Munro, the buildings are part of the firm’s Phase 3 plans for the former playing fields within the northern part of the Kilrymont site.
A total of 703 bed spaces will be delivered within 132 accommodation clusters, and developers plan to retain and refurbish the sports hall, community-use facilities and pool hall …
Ardian and Rockfield acquire major Dutch PBSA asset
Ardian and Rockfield Real Estate have acquired the 596-bedroom Minervahaven purpose-built student accommodation (PBSA) housing building in Amsterdam’s Houthavens district. The deal is one of the largest single PBSA transactions in the Netherlands on record in terms of gross asset value (GAV).
Minervahaven is the fourth investment by the pan-European student accommodation strategy in just six months from launch – after earlier acquisitions in Florence, Bologna and Barcelona – which takes total capital deployed so far to over €300m GAV.
CBRE Investment Management’s Indirect Strategies provided an initial €500m equity commitment to the strategy. The strong momentum in fundraising continues, with an expected additional €300m of commitments closing in Q2 2025 and a target to reach a total of €1bn for the PBSA strategy by the end of 2025 …
Unite Students – New University Partnership with Manchester Met
Unite Students, the UK’s leading owner, manager and developer of student accommodation, today announces that it has entered into a joint venture (‘JV’) framework agreement with Manchester Metropolitan University for the development of 2,300 new student beds.
Highlights
· Long-term strategic partnership with a leading university
· Total development costs of c.£390 million (Unite share: c.£275 million)
· Unite to act as developer, asset manager and operator to the JV with 70% ownership share
L&G expands PBSA strategy with The Place acquisition
L&G has announced the acquisition of The Place, Nottingham, on behalf of L&G’s Institutional Retirement business to bolster its Student Living portfolio. L&G was advised by Macfarlanes, Cast advising on technical due diligence, EY on corporate due diligence and MTRE as acting agent. CBRE was selling agent, acting for the developer MRP on this deal.
The prime purpose-built student accommodation (PBSA) consists of 409 beds located to the south of Nottingham city centre and 0.6 miles from the University of Nottingham’s new Castle Meadow Campus.
The PBSA scheme, developed by MRP and constructed by McAleer & Rushe, completed in August 2024 and is currently in its first operational academic year …
Hines makes PBSA debut in Portugal with major acquisition
Hines has acquired a new purpose-built student accommodation (PBSA) project in Porto, which is currently under construction. The acquisition was made through the Hines European Property Partners (HEPP) fund and represents the first investment by Hines in the Portuguese market, reinforcing the firm’s commitment to the living sector in the Iberian Peninsula.
The building – which has a total floor area of 19,259 sqm – will include 573 bedrooms in a mix of studios with private kitchens and bathrooms; ensuite rooms with private bathrooms and shared kitchens between two residents; and cluster units consisting of several single rooms with private bathrooms and shared kitchen, dining, and living areas.
Designed to provide a comprehensive residential experience, plans include a wide range of indoor and outdoor amenities and services. Highlights include indoor and outdoor gyms, a swimming pool, social lounge, cinema, reservable private kitchen, study and meeting rooms, laundry, yoga room, games room, and a multi-sports outdoor court, as well as landscaped gardens and parking …