Henderson Park and Hines have formed a joint venture to pursue value-added investments in the European student accommodation sector.
As part of the new joint venture, the companies expect to develop a 630-bed development in Lancaster, United Kingdom. The new facility is expected to be completed in time for the 2019–2020 academic year.
The acquisition in Lancaster represents Henderson Park’s first entry into the student living market and the first for this new joint venture with Hines.
Lancaster University is one of the United Kingdom’s top 10 universities and was recently named University of the Year in The Times Good University Guide 2018. With over 13,000 students at the university, including just more than 3,000 from overseas, coupled with a very limited amount of professionally managed student accommodation away from the university campus, the city offers strong demand and supply fundamentals for student accommodation.
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