Student Developments Driving Out Coventry's Businesses
20th Jul 2018
It's understood the US property investment company, Hines is lining up to purchase Oaktree Capital Management's student accommodation portfolio.
The private US equity firm currently holds a book of 1,460 student beds split across four separate assets with a combined value in the region of EUR 230 million.
Those properties within the portfolio include Binary Hub, a 471-bed site located near Thomas Street in Dublin and three other developments not yet operational.
These include the 447-bed Dorset Point development, expected to be complete early next in time for the academic year. Also included is the development currently being constructed by McAleer and Rushe at Summerhill in Dublin which will consist of 374 beds.
The final site has seen Michael O'Flynn teaming up with Blackrock Real Estate to purchase a site in Dublin's docklands with planning for around 950 student bedrooms.
The company had built up a substantial UK portfolio in just three years, which included nine purpose-built student accommodation sites located in six different cities, however the sale of its assets follows on from the company's decision to exit the student accommodation market in Europe.
20th Jul 2018
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