Harrison Street has formed a joint venture with Torison Developments to build out an initial pipeline of 3,000 student beds valued at £200m.
The joint venture has acquired Pine Mill, a 361-bed scheme in Lincoln which will complete ahead of the next academic year, and Curzon Circle in Birmingham (pictured), a 290-bed scheme which will complete the following year.
Paul Bashir, chief executive of Harrison Street’s European business, said: “Birmingham and Lincoln are home to major universities… yet both face a significant undersupply of high-quality PBSA options.
“Throughout the pandemic we have continued to identify and execute attractive investment opportunities for our investors and partners.”
Harrison Street has invested more than €2.7bn across 49 assets throughout Europe, including more than 14,000 student beds, 2,000 residential units and 1.6m sq ft of life sciences space.
Torison Group has delivered student schemes valued in excess of £125m over the last three years. It has an operational platform and completed its first managed and owned asset in Coventry this year for Warwick University.
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