Hines enters Irish student housing market
Hines has expanded its student-housing platform from the United Kingdom to Ireland with the acquisition of four prime assets in the center of Dublin on behalf of a group of German pension funds.
The seller was ThreeSixty Developments, a student housing developer and portfolio company of funds managed by Oaktree Capital Management.
“Dublin is home to four of Ireland’s eight world-ranking universities and has a vibrant, dynamic student population,” said Brian Moran, senior managing director and head of Hines Ireland, in a statement. “Demand for high-quality, safe, well-located accommodation is increasing. We are very happy to be a part of solving Dublin’s housing supply issues by taking over this platform and expect it to tie in well with our residential development plans.”
The portfolio includes one operational asset and three projects in various stages of development. The four assets will deliver approximately 1,500