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Henderson Park and Hines Purchase Next Student Project

Posted by Richard Ward

Image courtesy of Flickr, Creative Commons

Henderson Park and Hines have acquired a student housing project in Spain as part of a joint venture.

The 350-bed site in Spain also includes 3,610 sqm of office and 176 sqm of retail space.

Henderson Park and Hines joined forced in November 2017 to pursue value-added investments in the European student accommodation sector.

The latest deal represents the third student accommodation investment acquire by Henderson Park and Hines' joint venture.

Following the purchase, the joint venture has assembled a development portfolio of 1,730 student beds, including a 630-bed scheme in Lancaster, which is due to open in time for 2019-20 academic year.

Nick Weber, founding partner of Henderson Park, said: "The attractive fundamentals of the student housing market and the current lack of institutional-backed product in Barcelona presents a unique window for investment, which we are capitalising on."

"Hines is a world class operator in this space and together we remain focused on progressing our existing projects across both Spain and the UK and creating high quality living environments for students."

Lars Huber, CEO of Hines Europe, said: "Our latest acquisition with Henderson Park continues our strategy of targeting development and value-add student accommodation opportunities in Europe's leading university cities."

"This project will complement our existing scheme in Barcelona and will be overseen by our growing team in Spain, led by Vanessa Gelado, while our Aparto platform will ensure we deliver not only the highest quality accommodation but also an exceptional student experience."