Heitman and Erben to develop Western Australia’s largest PBSA asset
2 February 2026 | Land Acquisition | Australia | 1,146 beds | Development
Heitman and Erben, an Australian property development and investment firm, haves acquired Lot 19 at Perth City Link from the Western Australia State Government. The site will be transformed into Western Australia’s largest purpose-built student accommodation (PBSA) asset, with approved plans for a 19-story property spanning more than 37,000 square meters (398,265 square feet) in Perth’s central business district.
The acquisition marks Heitman’s continued expansion within the Australian student housing sector. Heitman was an early entrant in the Australian PBSA market in 2018, with the development of Infinity Place, a 335-bed property in Melbourne’s Carlton district, adjacent to the University of Melbourne and RMIT that it continues to own.
“Fueled by student demand, Perth is experiencing substantial growth in higher education campuses, which is transforming its city center into a major Australian and regional education hub,” said Brad Fu, managing director and head of Asia Pacific acquisitions for Heitman. “This development reaffirms Heitman’s long-term commitment to the Australian market, and we anticipate it becoming a focal point for the growing student community in Perth’s CBD.”
The property is located next to the new Edith Cowan University City Campus, opening to students in 2026, and a short walk to North Metropolitan TAFE. Sitting atop Perth Railway Station next to Perth Central Station, there is immediate access to Perth’s largest transportation interchange as well as cultural, retail and entertainment amenities. The planned development will deliver 1,146 beds of student accommodation and ground-floor retail offerings.
Students will have access to an extensive suite of amenities, including communal kitchens, a fitness facility and study lounges. The project is targeting a 5 Green Star rating and incorporates sustainable design elements, such as energy-efficient building systems and a solar array. Estimated completion is December 2027, with first student occupancy targeted for February 2028.
Unite Students finalises £390 million Manchester Met JV
3 February 2026 | Joint Venture | UK | 2,302 beds | Development
Student accommodation provider Unite Students has finalised its joint venture with Manchester Metropolitan University to develop 2,302 new student beds.
The redevelopment of Cambridge Halls – Unite Students largest scheme to date – represents a major investment in the student experience and will play a key role in supporting Manchester Met’s commitment to providing modern, supportive and affordable places to live and learn. The project forms part of the University’s wider plan to create a truly, modern campus for its 44,000 students that underpins its strong graduate outcomes and employability record.
The funding structure for this innovative partnership will see Unite Students act as developer, asset manager and operator. Unite Students will hold a 70% stake in the £390 million venture, allowing the University to focus its resources on teaching, research and student support.
The development has been designed with input from students as it’s increasingly recognised that, high‑quality, safe and supportive accommodation plays a major role in where they choose to study.
The new property boasts a range of room types, including a mix of cluster and studio flats, and a variety of high‑quality amenities such as a rooftop exercise area, sports pitches and an allotment. For students seeking more affordable accommodation options, a communal catering floor will provide access to a large, shared kitchen, dining and lounge space for up to 400 students.
In addition to improving the supply and quality of Manchester Met’s on-campus accommodation, the redeveloped Cambridge Halls site will incorporate a new community health centre.
Hines acquires a 300-room PBSA asset in Madrid
30 January 2026 | Asset Acquisition | Spain | 300 beds | Development
Hines announced the acquisition of a new purpose-built student accommodation (PBSA) project in Móstoles, Madrid, marking its first foray into the city's student housing sector.
Key details
Asset Type: Purpose-built student accommodation (PBSA) currently under construction.
Capacity: More than 300 beds across 300+ rooms.
Investment Value: Approximately €36 million.
Fund: Executed on behalf of the Hines European Real Estate Partners III (HEREP III) fund.
Location: Situated in Móstoles, adjacent to Rey Juan Carlos University and directly opposite the university hospital.
Size: Gross built area of roughly 12,000 square meters.
Strategic context
This acquisition expands Hines' Iberian PBSA portfolio, which already includes operational assets or developments in Barcelona, Valencia, and Porto. Across the Iberian Peninsula, Hines now manages or has under development more than 3,200 beds. Once completed, the residence will be operated under Hines' aparto platform.
Orka Investments launches UK PBSA joint venture
21 January 2026| Joint Venture | UK | 1,300 beds | Operational
Orka Investments has formed a joint venture with an unnamed global institutional real estate investor to acquire purpose-built student accommodation (PBSA) assets across the UK.
The joint venture was launched via three off-market acquisitions providing 1,300 beds with 90% of the income from Russell Group university locations. The acquisition was supported by a facility provided by Investec.
The JV intends to scale the portfolio with further acquisitions targeting standing PBSA assets in Russell Group university cities where value can be added via repositioning.
Raoul Malhotra, founder and CEO of Orka Investments, said: “This partnership underscores our ability to source off-market opportunities that combine defensive income with meaningful value creation. UK PBSA continues to demonstrate exceptional resilience, and we are proud to align with one of the world’s most respected institutional investors and secured financing from UK leading PBSA lender, Investec, as we scale our platform.”
Sebastian Walley, from Investec Real Estate, added: “We are pleased to support this joint venture between Orka and a leading global institutional real estate investor, as it establishes and scales its PBSA platform. Our financing has been structured to provide the certainty and flexibility required to execute its strategy reflecting Investec’s experience in supporting clients operating in specialist living sectors.”
Commerz Real sells Barcelona PBSA asset to Ardian and Rockfield
21 January 2026 |Asset Acquisition | Spain | 673 beds | Operational
Commerz Real has sold the “Pallars” residential complex in Barcelona from its “Commerz Real Institutional Smart Living Europe Fund” portfolio. The buyer of the complex, which had been acquired in 2021, is a fund belonging to the international real estate investors Ardian and Rock-field. It was agreed that confidentiality be maintained regarding the purchase price.
The open-ended special AIF (alternative investment fund) “Commerz Real Institutional Smart Living Europe Fund” invests in student and micro-apartment complexes in European metropolis-es and university cities and towns on behalf of professional and semi-professional investors. Commerz Real had only recently acquired a student residential complex in Dublin for the Smart Living Europe Fund.
Originally acquired using a forward funding format and completed in November 2022, “Pallars” encompasses 673 single and double rooms on a total leasable area of 26,086 square metres distributed across a four-storey block and four eight-storey apartment towers. In addition, there are 34 car parking spaces, 211 motorcycle stands and 105 bicycle stands in the integrated un-derground car park. The residential complex is located at Carrer de Pallars 433-453 in the “22@” quarter, a former industrial site in the Sant Martí district, which since 2000 has been transformed and upgraded into a leading innovation and technology centre.
Uxco Group signs a contract for a 159-studio residence for €16.5m
21 January 2026| Asset Acquisition | France | 159 beds | Development
Developed by Confiance Groupe Immobilier in Lyon, with delivery scheduled for 2027. This project was acquired through a VEFA (Vente en l’État Futur d’Achèvement, or forward-funding) agreement with the developer Confiance Groupe Immobilier.
Key details
Location: Lyon, France.
Capacity: 159 studio apartments.
Investment Value: €16.5 million.
Ownership: UXCO Group is majority-owned by Brookfield Asset Management.
Context of expansion
This acquisition is part of UXCO Group's broader strategy to reach 25,000 beds by 2027. Other recent major investments include:
€20 million for a 164-unit residence in Saint-Ouen-sur-Seine (Greater Paris).
€35 million for two residences in Gennevilliers and Bezons.
€38 million for the UXCO Student 'Atlas' residence in Toulouse.