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Harrison Street Team up with Torsion

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Harrison Street has teamed up with Torsion to invest in purpose-built student accommodation (PBSA).

A JV has been established between the two parties, who have identified a pipeline of accommodation consisting of around 3,000 beds, with a total project value of £200m.

The JV has already snapped up Pine Mill in Lincoln, as well as Curzon Circle in Birmingham.

Pine Mill is scheduled for completion in time for the 2021-22 academic year, while Curzon Circle will open in 2022.

Commenting on the venture, Paul Bashir, chief executive of Harrison Street's European business, said: "Birmingham and Lincoln are home to major universities with student populations of 72,600 and 15,200 respectively, yet both face a significant undersupply of high-quality PBSA options. By partnering with Torsion, a best-in-class U.K. based developer and operator, Harrison Street is able to ensure Lincoln and Birmingham remain top destinations for students while furthering our strategy of investing in best-in-class PBSA assets in leading university markets in Europe. Throughout the pandemic we have continued to identify and execute attractive investment opportunities for our investors and partners."