Harrison Street and CA Ventures team up on student housing
Harrison Street and CA Ventures have teamed up to build student housing across the UK, with an initial portfolio of four projects in the pipeline.
The companies have formed a joint venture to develop and acquire university accommodation, indicating their “long-term conviction” for the sector, according to Harrison Street’s European chief executive.
The jv will kick off with four student housing developments across London, Edinburgh, Leicester and Belfast, providing homes for 935 students when finished. They will serve institutions including De Montfort University, the University of Edinburgh, Queens University in Belfast and various major universities in London. All four schemes will be managed by CA’s in-house student accommodation operating platform, Novel Student.
Harrison Street and CA Ventures have teamed up to build student housing across the UK, with an initial portfolio of four projects in the pipeline.
The companies have formed a joint venture to develop and acquire university accommodation, indicating their “long-term conviction” for the sector, according to Harrison Street’s European chief executive.
The jv will kick off with four student housing developments across London, Edinburgh, Leicester and Belfast, providing homes for 935 students when finished. They will serve institutions including De Montfort University, the University of Edinburgh, Queens University in Belfast and various major universities in London. All four schemes will be managed by CA’s in-house student accommodation operating platform, Novel Student.
“This jv is a testament to Harrison Street’s long-term conviction in the European student accommodation sector,” said Paul Bashir, European chief executive at Harrison Street.
“We are excited to expand our presence in top-tier university cities in the UK, with each having growing student populations in need of high-quality PBSA that cater to their wellbeing.”
Carlo Matta, head of Europe at CA, added: “Despite the challenges posed by the Covid-19 pandemic, the student accommodation sector has continued to demonstrate its recession-resistant qualities and outperform other commercial real estate asset classes.”
The companies have already worked together for 12 years in the US, where both are based. Harrison Street has invested in 13,400 student accommodation beds across the globe, while CA currently has 897 beds under construction separately in Glasgow, Edinburgh and Sheffield.
