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£1bn Housing JV Created by Partners Group and Host

Posted by Calum Martin in

Image courtesy of Flickr, Creative Commons

Partners Group and Host Student Housing have created a £1bn student housing and co-living joint venture.

Two already operational purpose-built student accommodation assets have been tied into the new joint venture, located in Leicester and Colchester.

Also included in the deal are a PBSA development project in Bournemouth and a co-living development in Guildford.

The companies have also reported a PBSA development pipeline of more than 1,000 beds in Manchester, Bristol, Edinburgh and Birmingham.

Managing director, and co-head of private real estate Europe at Partners Group, Rahul Ghai commented: "A return to normality and strong demand fundamentals are making the post-COVID student accommodation sector in the UK an attractive investment opportunity.

"The sector is a key thematic focus for us and benefits from long-term tailwinds, such as favourable population growth trends and rising enrolment rates, as well as the continued strength of the UK's higher education offering globally."

Peter Holden, managing director, and co-head of real estate asset management at Partners Group stated: "We look forward to working with Host in this joint venture to continue to provide safe, energy-efficient assets to meet the increasing need for good value housing in key undersupplied university cities throughout the UK."

Managing director at Host, John Nesbitt, said: "We have a shared ambition to build a new portfolio of top quality PBSA and co-living projects in the 'living' sector, which offers strong sector fundamentals and growth."

Michael O'Flynn, chairman and CEO of the O'Flynn Group, said: "Our experience over 25 years in providing student accommodation in Ireland, the UK and across Europe will clearly benefit the joint venture

"This is a unique opportunity, through Host, to collaborate with Partners Group in the development of PBSA and co-living projects. The scale of the joint venture will quickly position the JV as a leading player in a sector with significant growth potential."