4 April 2019 – Idealista
The student hall specialist Syllabus by Urbania has signed an agreement with the US company Greystar to delegate it the administration of its halls of residence, which it operates under its own brand.
The agreement covers the functions of marketing, administration and general property management, amongst others, and Greystar is going to assign a dedicated team to its new client.
Syllabus has a portfolio of projects under development comprising more than 2,500 beds, and following its strategic investment agreement with Invesco Real Estate, it is now also working on a growth plan for up to 10,000 units over the next few years.
Greystar, which was founded in 1993, already manages 50,000 beds in halls of residence around the world for brands such as Chapter and Sailmakers in the UK, OurDomain in the Netherlands, EdR and Rockoff Hall in the USA, and Resa in Spain.
Original story: Idealista
Translation/Summary: Carmel Drake
22 June 2018 – Eje Prime
Allianz is joining the wave of student halls of residence. Allianz Real Estate, the real estate arm of the insurance group, is preparing to invest €400 million in the sector in the United Kingdom. The company has created a joint venture with Greystar Real Estate Partners and the Public Pension Investment Board (PSP Investment) to promote Chapter, a brand of halls of residences for students in London.
Chapter is owned by Greystar, a US group specialising in this type of accommodation. Allianz has acquired a stake in Chapter’s share capital, together with PSP Investment, one of the largest pension fund managers in Canada. The insurance company is going to disburse GBP 350 million (€399 million) for the operation.
With this alliance, Chapter will double its size to 10,000 beds in five years. Greystar will continue to manage its portfolio, which currently contains 5,100 beds in ten locations in the centre of London. The next one to be added to the portfolio, in September, will be located in White City, West London.
“This joint venture with Greystar and PSP Investments demonstrates our strategic commitment to scale our global business with high-quality halls of residence for students in established markets”, explained Olivier Téran, Director of Investment at Allianz Real Estate. In the operation, which is pending approval, Allianz has been advised by Savills and Herbert Smith Freehills.
Original story: Eje Prime
Translation: Carmel Drake