Partners Group Forms £1 Billion JV with Host Student Housing
Posted on 07/02/2022
Partners Group AG, acting on behalf of its clients, and Host Student Housing Ltd. (Host), a fully integrated developer and operator in the student and living sector and one of the largest providers of student accommodation in the U.K., have formed a new £1 billion U.K. student accommodation and co-living joint venture. Host, in conjunction with Tiger Developments, is part of the O’ Flynn Group of companies which has extensive interests in the property sector in Ireland. Run by developer Michael O’Flynn, the O’ Flynn Group has been in operation since 1978. It is a builder of new homes across Ireland and manages a wide portfolio of commercial properties in Ireland and the U.K. In December 2017, O’Flynn Construction and O’Flynn Capital Partners re-branded under the O’Flynn Group. Host (formerly Victoria Hall Management Limited) in conjunction with Tiger Developments, part of the O’ Flynn Group of companies which has extensive interests in the property sector in Ireland, has more than 25 years’ experience providing student accommodation with nationwide coverage and strong university relationships in most cities.
The joint venture is seeded with two Host-owned operational Purpose-Built Student Accommodation (PBSA) assets in Leicester and Colchester, a PBSA development project in Bournemouth and a purpose designed co-living development project in Guildford (CGI Imagery below).
In addition, there is an immediate identified pipeline of over £250 million of PBSA developments totalling more than 1,000 beds in the prime Russell Group university markets of Manchester, Bristol, Edinburgh and Birmingham.
Together, Partners Group and Host intend to expand the JV through further developments in the PBSA and co-living sectors, creating a large portfolio of £1 billion GDV.
