Hines to Expand UK Footprint
In a joint venture with Henderson Park, the firm plans to open a 630-bed student housing property in Lancaster, U.K.
By Adina Marcut
Hines, in a joint venture with Henderson Park—a European real estate investment platform founded by Nick Weber, have revealed plans to open a 630-bed student housing community in Lancaster, U.K. This development marks the second joint venture for the two partners, following their acquisition of the Ledra Marriott hotel in Athens.
The new project is currently under construction and is slated to open in the 2019-2020 academic year. The community will served students attending the Lancaster University—one of U.K’s top 10 universities, which was recently named University of the Year in The Times Good University Guide 2018. The student housing property will feature common-area amenities such as a rooftop lounge, study library, fitness center and a cinema room.
“This landmark development in Lancaster represents Henderson Park’s first entry into the student living market and the first for this new joint venture with Hines,” Weber said in a statement. “We now look forward to working with Hines to source further interesting opportunities for future investment in this sector across a range of different European cities, where we believe there are also compelling underlying fundamentals.”
Hines’ latest development was South Building of Meriel Marina Bay, a 352-unit luxury community in Quincy, Mass.
Image courtesy of Hines