The Market Monitor Digest (week 17/2023)
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Student Housing & Co-Living
UK, Birmingham: Green light for tallest tower in Birmingham
By Grant Prior, April 27, 2023
The £360 million Curzon Wharf scheme will include a residential build to rent apartment block which will stand 53 storeys high, making it Birmingham’s tallest building at 172 metres (564 feet). The purpose-built student accommodation will be 41 storeys and another residential element at 14 storeys tall.
Ireland, Dublin: The next phase of Grangegorman redevelopment could include 2,000 affordable student beds
By Laoise Neylon, April 26, 2023
The redevelopment includes 2,000 student beds and the challenge is to make those affordable, says Casey.
UK, Durham: Green light tipped for huge student accommodation development
By Alice Bird, April 26, 2023
Plans for a huge student accommodation scheme in Durham, comprising more than 800 bedrooms, look set to progress.
France, Massy: In Massy, Novaxia transforms 10,000m² of vacant offices into housing
By Lise Lohez, April 25, 2023
The Novaxia group has acquired the former offices of GE Energy, located in the Atlantis district. They will soon be transformed into a co-living residence with 192 apartments.
Spain, Malaga: The 'boom' of university residences: almost 1,700 new rooms in Malaga
By Jorge Pedrosa, April 24, 2023
Last week's announcement to add more than two hundred beds joins eleven other projects in different stages of processing.
BTR
Germany, Hamburg: Start of construction for an innovative new building project in HafenCity
Author unknown, April 26, 2023
ECE Work & Live with Harmonia Immobilien, is developing the TIDE as an essential part of the mixed-use building ensemble: several residential buildings with around 600 high-quality owner-occupied and rental apartments.
Spain, Madrid: Catella buys residential rental in Madrid for 22 million euros
Author unknown, April 25, 2023
Catella has closed the purchase of a building with 148 subsidized homes for rent from the promoter Activitas in Madrid for 22 million euros.
Sweden, Vaxjo: Resinova Bostad buys Swedish resi portfolio
Author unknown, April 27, 2023
K2A Knaust & Andersson Fastigheter has completed a divestment comprising four properties in Vaxjo with an underlying property value of €57m. The buyer is Resinova Bostad AB. The portfolio comprises 261 rental apartments.
UK, Glasgow: Dandara submits plan for 1000 Glasgow rental homes
Aaron Morby, April 26, 2023
Dandara Living has submitted plans to Glasgow City Council to build a mix of build to rent homes and student rooms at Anderston Quay. The Stores scheme overlooking the Kingston Bridge promises to deliver 503 homes for rent, and an additional 491 student homes over three buildings.
Senior Living
Germany, Wildeshausen: Start of construction for exclusive senior citizens' apartments
By Ove Bornholt, April 24, 2023
Construction work on the new “Spascher Sand residential home” in Wildeshausen has begun. 42 apartments for the elderly and a day care center with around 15 places are being built on the former barracks site on Dr.-Pickart-Straße. As reported, an underground car park with 55 parking spaces also belongs to the complex, which is being built on a plot of around 5,400 square meters. The work is scheduled to be completed in autumn 2024.
US, Crestwood: Chicago Affordable Senior Living Gets $14M Refi
By Diana Firtea, April 26, 2023
Greystone has provided a $13.7 million HUD-insured loan for the refinancing of The Pointe at Kilpatrick, an 83-unit affordable senior living facility in Crestwood, Ill. The loan carries a 35-year, fixed-rate term. The Pointe at Kilpatrick is part of a financial assistance program, which makes the property affordable to seniors over the age of 65. The 2003-built Pointe at Kilpatrick comprises 122 beds in 83 units with studio, one- and two-bedroom floorplans that range between 435 and 675 square feet.
Germany, Selm: Real Blue acquires nursing homes in North Rhine-Westphalia
Author unknown, April 24, 2023
Real Blue KVG acquires three fully let portfolio properties in Selm (Unna district) for the open-ended special fund "Real Blue Senior Living". The properties, built between 2014 and 2015, have 7,000 m² of rental space and comply with the requirements of the Article 8 fund's ESG strategy. They are used for assisted living, as a nursing home and a medical, pharmaceutical and therapeutic offer and are rented out on a long-term basis. The seller is the company of the cooperative group of companies Bauverein zu Lünen. Real Blue was advised by Immotiss care, Kucera Rechtsanwälte, and Drees & Sommer. The fund, which was launched at the beginning of 2022, now comprises five properties, the other properties are located in Albstadt and Sulz am Neckar, with a total investment volume of around EUR 75 million.
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