Student Housing Is Under Construction in London
London student housing is getting some new development. The Carlyle Group has acquired three development sites in London for £46 million (€55 million). The sites have received planning permission to be developed into student accommodation, and Carlyle made the investment on behalf of its Carlyle European Real Estate Partners III, which closed in 2008 with €2.2 billion in equity.
The three properties — located on Ewer Street in Southwark, on Goswell Road in Islington and at the former Hammersmith Palais concert venue in west London — will provide approximately 1,400 beds when completed and are expected to be delivered in 2013 and 2014. Carlyle is investing in partnership with Generation Estates, which will be responsible for the development process and manage the completed properties.
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