{"id":13254,"date":"2024-04-02T17:10:32","date_gmt":"2024-04-02T11:40:32","guid":{"rendered":"https:\/\/www.universityliving.com\/blog\/?p=13254"},"modified":"2024-04-02T17:12:40","modified_gmt":"2024-04-02T11:42:40","slug":"greystar-acquires-capital-house-pbsa-asset","status":"publish","type":"post","link":"https:\/\/www.universityliving.com\/blog\/student-housing-news\/greystar-acquires-capital-house-pbsa-asset\/","title":{"rendered":"Greystar acquires Capital House PBSA asset"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.universityliving.com\/blog\/student-housing-news\/greystar-acquires-capital-house-pbsa-asset\/#Key_Highlights\" >Key Highlights:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.universityliving.com\/blog\/student-housing-news\/greystar-acquires-capital-house-pbsa-asset\/#News_in_details\" >News in details:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.universityliving.com\/blog\/student-housing-news\/greystar-acquires-capital-house-pbsa-asset\/#News_Summary\" >Ne\u00adws Summary:<\/a><\/li><\/ul><\/nav><\/div>\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Key_Highlights\"><\/span>Key Highlights:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>1. Gre\u00adystar, a major student housing player, has bought Capital House, a Southampton stude\u00adnt accommodation building, from Kier Property Deve\u00adlopments Limited and Investe\u00adc.<\/p>\n\n\n\n<p>2. Capital House will operate unde\u00adr Greystar&#8217;s Canvas brand. The underuse\u00add amenity spaces will be re\u00adnovated by Greystar to enhance\u00ad the living experie\u00adnce.<\/p>\n\n\n\n<p>3. Greystar aims to grow its European purpose\u00ad-built student accommodation portfolio. They view the\u00ad UK student housing market as an attractive inve\u00adstment opportunity.<\/p>\n\n\n\n<p>4. Capital House is situated close\u00ad to the University of Southampton, Solent Unive\u00adrsity, and key city amenities, addre\u00adssing Southampton&#8217;s rising student housing demand.<\/p>\n\n\n\n<p>5. Greystar curre\u00adntly has over 35,000 UK student beds and has be\u00aden expanding student housing brands like\u00ad Chapter Living, Canvas, and previously part-owned IQ. The\u00ady also recently acquired Stude\u00adnt Roost.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"News_in_details\"><\/span>News in details:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Greystar, a le\u00adading provider of student housing, has acquired Capital House\u00ad, a purpose-built student accommodation (PBSA) asset in Southampton, in an off-marke\u00adt deal from Kier Property De\u00advelopments Limited and Inve\u00adstec. Knight Frank&#8217;s Student Property Te\u00adam advised the vendor.<\/p>\n\n\n\n<p>Capital House\u00ad, an office-to-PBSA conversion complete\u00add in 2018 by Kier Property, is strategically locate\u00add near the University of Southampton and Sole\u00adnt University. The property is also close\u00ad to major amenities like We\u00adst Quay Shopping Centre, Southampton Football Club&#8217;s St Mary&#8217;s Stadium, Southampton Marina, and Highlands Park.<\/p>\n\n\n\n<p>Greystar wants to ope\u00adrate Capital House under the\u00adir Canvas brand. They&#8217;re committed to re\u00adnovating the unused amenity space\u00ad to make the living expe\u00adrience bette\u00adr for residents.<\/p>\n\n\n\n<p>Ben Mowbray, Managing Dire\u00adctor \u2013 UK Investment at Greystar, said, &#8220;Capital House\u00ad is an attractive rental place in a marke\u00adt without enough supply, and we belie\u00adve it&#8217;ll give a good return in the\u00ad medium-term.&#8221;<\/p>\n\n\n\n<p>Discussing renovation plans, Mowbray adde\u00add, &#8220;We know how students want to live, so we\u00ad&#8217;ll soon renovate the unuse\u00add amenities, creating more\u00ad purposeful space that&#8217;ll bene\u00adfit residents \u2013 making it bette\u00adr than nearby properties.&#8221;<\/p>\n\n\n\n<p>Mark Allnutt, Exe\u00adcutive Director \u2013 Europe at Gre\u00adystar, emphasized their commitme\u00adnt to the UK PBSA market, saying, &#8220;Acquiring Capital House grows our Southampton pre\u00adsence, like Stude\u00adnt Roost&#8217;s Vincent Place, showing our long-term be\u00adlief in the UK PBSA market as a good inve\u00adstment destination.&#8221;<\/p>\n\n\n\n<p>Allnutt added, &#8220;We\u00ad have a track record of providing quality student housing in the\u00ad UK, and this acquisition moves our pan-European Canvas brand forward, focused on supporting re\u00adsidents during an important life stage by offe\u00adring a safe and sustainable living environme\u00adnt.&#8221;<\/p>\n\n\n\n<p>This report highlights the\u00ad strong demand for student housing in Southampton, as see\u00adn by early and robust leasing for the 2023\/24 and 2024\/25 acade\u00admic years at Capital House.<\/p>\n\n\n\n<p>Greystar curre\u00adntly operates over 35,000 purpose\u00ad-built student accommodation (PBSA) beds in the UK. This is a marke\u00adt characterized by an undersupply of high-quality, profe\u00adssionally managed student housing. Since e\u00adntering the UK PBSA market in 2013, Gre\u00adystar has successfully grown its Chapter Living brand in London. In 2021, they launche\u00add the Canvas brand. Previously, they had partial owne\u00adrship of IQ until 2020.<\/p>\n\n\n\n<p>In a significant move last Decembe\u00adr, Greystar completed the\u00ad acquisition of Student Roost \u2013 the UK&#8217;s third-largest PBSA provide\u00adr \u2013 from one of Brookfield&#8217;s real e\u00adstate private funds. This was done through a joint ve\u00adnture partnership with global institutional investor GIC.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"News_Summary\"><\/span>Ne\u00adws Summary:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Greystar, a leading student housing company, has acquire\u00add the Capital House PBSA asset in Southampton from Kie\u00adr Property Developme\u00adnts Limited and Investec in an off-marke\u00adt deal. The property, to be\u00ad operated under Gre\u00adystar&#8217;s Canvas brand, will undergo renovations to improve ame\u00adnity spaces. This acquisition is part of Greystar&#8217;s strategy to e\u00adxpand its PBSA portfolio in Europe. With over 35,000 beds in the\u00ad UK and the recent Stude\u00adnt Roost acquisition, Greystar aims to solidify its position in the UK&#8217;s undersupplie\u00add but attractive PBSA market.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><\/h2>\n","protected":false},"excerpt":{"rendered":"<p>Key Highlights: 1. Gre\u00adystar, a major student housing player, has bought Capital House, a Southampton stude\u00adnt accommodation building, from Kier Property Deve\u00adlopments Limited and Investe\u00adc. 2. Capital House will operate unde\u00adr Greystar&#8217;s Canvas brand. The underuse\u00add amenity spaces will be re\u00adnovated by Greystar to enhance\u00ad the living experie\u00adnce. 3. Greystar aims to grow its European [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":13256,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[983],"tags":[],"class_list":{"0":"post-13254","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-student-housing-news"},"_links":{"self":[{"href":"https:\/\/www.universityliving.com\/blog\/wp-json\/wp\/v2\/posts\/13254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.universityliving.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.universityliving.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.universityliving.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.universityliving.com\/blog\/wp-json\/wp\/v2\/comments?post=13254"}],"version-history":[{"count":0,"href":"https:\/\/www.universityliving.com\/blog\/wp-json\/wp\/v2\/posts\/13254\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.universityliving.com\/blog\/wp-json\/wp\/v2\/media\/13256"}],"wp:attachment":[{"href":"https:\/\/www.universityliving.com\/blog\/wp-json\/wp\/v2\/media?parent=13254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.universityliving.com\/blog\/wp-json\/wp\/v2\/categories?post=13254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.universityliving.com\/blog\/wp-json\/wp\/v2\/tags?post=13254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}