PBSA News’ Post

Big moves from Greystar in the last 2 weeks. After what was a volatile year in the UK, Greystar is forging ahead with a global acquisition plan. Acquisition in Ireland I was Dublin last weekend and couldn’t quite believe the size of this property. It was conveniently located right next to the 3Arena so we just happened to get to our gig early to have a wander around to look for a bar (and check out the PBSA). Interesting that Greystar seem to have paid €22 million less than DWS Group bought it for according to PBSA News. Given the asset is 100% occupied is that the impact of the rent caps coming into play? Kudos to the marketing team who have already rebranded to Canvas online. https://lnkd.in/eev8AzsJ Acquisition in Australia I expect this deal has been in the pipeline for some time. Perhaps Greystar were waiting for a softening of the international student cap rhetoric or for the bill to fail before completing. Either way to now have Greystar rivalling Scape and Meanwhile Group makes a more level playing field in Australia. I would expect them to double down on this approach out there which may drive acquisition costs up with more serious competition. However this isn’t a development play yet. https://lnkd.in/ehaGMMQp Well done and good luck to all at Greystar. RESI Consultancy #pbsa #studentaccommodation #studenthousing #ireland #australia #realestate

TRANSACTION NEWS: Greystar has acquired a seven-asset, 5,662-bed purpose-built student accommodation (PBSA) portfolio in Australia for A$1.6 billion ($1.02 billion).

CapitaLand Ascott Trust (#CLAS) has acquired the remaining 10% stake in Standard at Columbia, a freehold student accommodation property in South Carolina, United States of America. The earnings before interest, taxes, depreciation and amortisation (EBITDA) yield on total development cost is expected to be approximately 7%, higher than the 6.2% EBITDA yield that was projected in 2021 on the basis that the property has achieved stable performance. The acquisition is funded by proceeds from CLAS’ earlier divestments. Serena Teo, Chief Executive Officer of CLAS, said: “The acquisition of Standard at Columbia is in line with CLAS’ strategy to marry stability and growth to generate long-term returns to Stapled Securityholders. Recycling capital from our divestment proceeds into this longer-stay asset with strong operating performance will further boost our returns. With an average length of stay of about one year, student accommodation properties enhance CLAS’ stable income stream and strengthen our portfolio’s resilience against macroeconomic uncertainties. It diversifies our portfolio which also comprises hospitality assets such as serviced residences or hotels that allow us to capture travel demand for growth income.” The 678-bed Standard at Columbia serves the nearby University of South Carolina (USC), which is the largest university in the state. It is one of the best performing student accommodation properties serving the USC, commanding one of the highest rents per bed. For the upcoming academic year (AY) 2024-2025, the pre-leasing occupancy rate has reached 99% as at end May, with rental growth of about 4% compared to AY 2023-2024. For more, visit: https://bit.ly/CLASSaC10 #Acquisition #REIT #PBSA #Lodging

Growthpoint Student Accommodation REIT has reported a 98% portfolio occupancy for the 2024 academic year – exceeding that of 2023. Since launching in 2021, the REIT has introduced R1.5bn in new investments to this alternative property sector, having expanded its portfolio value to approximately R3.5bn: https://bit.ly/3Qqc8um - with Growthpoint Properties and Feenstra Group #studentaccommodation #growthpoint #realestatenews #propertynews #reit #listedcompanies #propertydevelopment #realestateinvestment #propertyowners #landlords #assetmanagement #reit #propertyfund #alternativeinvestment #commercialrealestate #university

The UK's PBSA market never has a dull moment, as evidenced by Mapletree recent £1 billion investment to acquire 8,192 operational beds (31 PBSA schemes) across 19 cities in the UK and Germany. This substantial commitment underscores the robust growth and positive investment potential within this asset class & #studenthousing sector! But why is PBSA the fastest-growing market segment in real estate? We have unlocked few of the insights here: https://shorturl.at/zDPSV. DM if you have more thoughts on this or wish to contribute! Amber #PBSA

Know everything about the booming PBSA student housing market! High demand, stable returns, and long-term growth potential make it one of the top investment sectors in 2024 #RealEstate #StudentHousing #Investing #PBSA

Hello Kraków! Excited to share the news of our latest acquisition, marking a significant addition to our portfolio. This property will be managed under the “Basecamp by Xior Student Housing” logo, blending the strengths of both brands. With this move, we now oversee close to 3,500 beds in Poland spanning five properties, with more on the horizon by 2025! This strategic step highlights our commitment to growth and innovation in the market. This transaction sets the stage for further consolidation in the PBSA sector, offering enhanced operational efficiency and a superior resident experience. Centralized resources enable cost reductions, driving value for all stakeholders. Having been closely involved in this deal, I stress the importance of design solutions and operational setup for new developers entering the market. Neglecting these aspects can significantly impact the project's final outcome, shaping its ultimate success or failure. In the world of PBSA, success goes beyond building structures—it lies in meticulous design and seamless operations. Exciting times ahead as we continue to redefine the student housing landscape. #PBSA #StudentHousing Link to article: [Read more](https://lnkd.in/d38tJQrz)

Growthpoint Student Accommodation REIT has reported a 98% portfolio occupancy for the 2024 academic year – exceeding that of 2023. Since launching in 2021, the REIT has introduced R1.5bn in new investments to this alternative property sector, having expanded its portfolio value to approximately R3.5bn: https://bit.ly/3Qqc8um - with Growthpoint Properties and Feenstra Group #studentaccommodation #growthpoint #realestatenews #propertynews #reit #listedcompanies #propertydevelopment #realestateinvestment #propertyowners #landlords #assetmanagement #reit #propertyfund #alternativeinvestment #commercialrealestate #university

Another positive step in the RICS vision and goal for a natural and built environment that's inclusive for all, underpinned by a diverse next generation.

Well done to Team Sama for successfully closing this complicated transaction.