Friday, February 13, 2015

Student Housing

London England


Property Week understands that investment vehicle LetterOne - which was co-founded by Russian billionaires Mikhail Fridman, German Khan and Alexei Kuzmichev - is under offer to buy Carlyle Group and Generation Estates’ Pure Student Living portfolio at a sub-5% yield.
Pure, a 2,150-bed portfolio, comprises five London student blocks, with four completed sites in Hammersmith, the City, the South Bank and Highbury, while a fifth is under development in Whitechapel.
LetterOne is thought to have fought off competition from more established investors such as Greystar, Avenue Capital, Round Hill Capital and Unite.
With the Russian economy in crisis due to the drop in oil prices and Western sanctions, many wealthy Russians have been seeking investments in other currencies as protection against the weakening ruble.
Fridman is worth $14.1bn (£9.3bn) and is the second wealthiest man in Russia, according to Forbes, while Khan is the 10th wealthiest, worth $9.2bn, and Kuzmichev is the 16th, worth $7bn.
The trio control the Alfa Group, one of Russia’s largest privately-owned conglomerates. Luxembourg-based LetterOne was reportedly set up from the $14bn windfall Fridman and Khan received from selling a stake in the TNK-BP oil venture in 2012.
LetterOne has previously completed a real estate financing deal in the UK, providing backing for Wainbridge’s £169m super-prime resi redevelopment of 11-15 Grosvenor Crescent in Belgravia in 2013.
Its purchase of Pure will also mark the exit of private equity giant the Carlyle Group from the UK student accommodation market, just five years after its first project with Generation Estates.
The price for Pure indicates the weight of demand for student assets, with a number of huge portfolios on the market. Canadian pension fund CPPIB is thought to be close to buying Brandeaux’s £1.1bn Liberty Living portfolio, while Knightsbridge Student Housing’s Westbourne portfolio is expected to fetch £500m.
JLL advised Carlyle Group and Generation Estates. LetterOne could not be reached for comment. All parties declined to comment.   --  PROPERTY WEEK

LaSalle Investment Management has bought two U.K. student accommodation assets for funds. The investment manager said it had invested $158.1 million Cdn in the separate, off-market transactions. The deals, in Birmingham and London, reflected respective yields of 5.4 and 5.8 per cent. The former, a 215,000-square-foot project, is due for completion in August next year.  -- 2015 February 23 

Vancouver Canada

Nestled in the hive of activity is an 18 storey tower including packaged offices and 18 high-end service flats.

A PRC related  ESL recruiting company purchased Viva Tower and will be converting the service flats to dorms to cater to international students.--  VANCITY BUZZ




  1. this is about off campus luxury housing for students because some real state do not talk rightly to the students so the did not take any thing from them.

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  2. Excellent design! Real estate that generates income or is otherwise intended for investment purposes rather than as a primary residence. Real estate that generates income or is otherwise intended for investment purposes rather than as a primary residence.........

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