Carlyle launches student housing investment push

first_img Monday 27 September 2010 8:11 pm whatsapp Carlyle launches student housing investment push Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily Proof CARLYLE Group, the private equity firm known for its large-scale investments in the defence industry, yesterday sealed a joint venture deal with Generation Estates, kickstarting its next big push in the student accommodation sector.Carlyle, led by co-founder David Rubenstein, and Generation said they had acquired one site in Highbury and Islington and are progressing work on a further three sites in London, to build an initial portfolio worth around £350m.The private equity giant believes student housing is an attractive long-term investment proposition due to excess demand and a shortfall of supply, particularly in London. There are currently over 260,000 full time students in the capital, yet purpose-built accommodation can only cater for around 16 per cent of them.The excess demand has led to long-term average rental growth of around seven per cent – a figure which grew to 10 per cent in 2009, Carlyle said.The firm expects the number of post-graduate and overseas students – a group which tends to favour secure purpose-built accommodation – to grow by around 15 per cent over the next couple of years. But it said current supply will struggle to keep up, with only 4,000 new beds due for delivery between 2010 and 2012. Show Comments ▼center_img KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailBern Healthy9 Worst Foods And Drinks For Your HeartBern HealthyLittle-Tricks.comLength Of Your Finger Reveals A Few Surprises About Your PersonalityLittle-Tricks.comBig Data Courses | Search AdBig Data Online Courses May Be Easier Than You ThinkBig Data Courses | Search Adsleeping7 Things That Happen To Your Body If You Sleep on Your Left SidesleepingBigGlobalTravel20 Of The Longest Celebrity Marriages – And Why They LastedBigGlobalTravel Share whatsapp Tags: NULLlast_img

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