Home > Ireland > Hines Ireland completes acquisition of 37m student housing development

Hines Ireland completes acquisition of 37m student housing development

Written by Robert McHugh, on 17th Feb 2017. Edited on 20th Feb 2017 Posted in Ireland

article headline

It was announced today that Hines has accelerated its growth into the student accommodation sector in the UK and Ireland with the launch of a new operating platform. This coincides with the acquisition of one asset and two further developments, comprising more than 1,000 bed spaces.
 
In Ireland, Hines has just completed the acquisition of the Montrose student housing development, adjacent to University College Dublin. The 205-bed scheme has been acquired from Ziggurat for €37.675 million following its redevelopment.
 
In December 2016 Hines and its investor partners entered the Ireland student housing market with the acquisition of a major portfolio from ThreeSixty Developments. This transaction comprised four prime sites in Dublin which will deliver a combined 1,500 new beds for the city’s growing student population. 
 
Aparto has been established by Hines as the consumer face for its rapidly expanding portfolio of student accommodation developments. Hines is building a dedicated internal Aparto team to manage the operations of the new sites.
 
The Binary Hub, in the south inner city, which was acquired as part of the ThreeSixty Developments portfolio, was completed in 2016, and along with the new Montrose acquisition, will be the first developments to carry the Aparto branding. 
 
Speaking today, CEO of Hines Europe, Lars Huber said, "Hines Europe is very committed to the Student Housing Sector, with firm plans to expand this strategy from UK and Ireland today to other markets across Europe in the future. We are excited about the launch of Aparto, providing additional Hines operational value creation beyond real estate."

Source: www.businessworld.ie

More articles from Ireland

image Description

Irish SMEs will need Government help with EU tenders

Read more
image Description

Forging strong Brexit alliances is "crucial" for Ireland

Read more
image Description

Irish homeownership rate at lowest level in 50 years

Read more
image Description

New logistics hub in South County Dublin could create 1,000 jobs

Read more
image Description

62% of Irish SMEs claim business has improved the past year

Read more

Advertisement

Latest News