Students Accommodations Up in the Marketplace
Making big investments in the big defense companies of the US is the image earned by the Carlyle Group, but nowadays, the Company is looking forward to step into the under supplied market of London that is student accommodations.
The property arm of the private-equity group has joined hands with very well established GEL, specialist in student accommodation.
In order to build halls, to accommodate at least 4000 students, both the Companies have decided to invest in this project.
The project has reminded about the Finsbury Park Underground station, which will accommodate 400 and it will be completed in 2012.
In addition to this, further discussions are being carried out about three big central sites in London.
“We've been aware of the attraction of student accommodation for some time, given the strong fundamentals of the market, particularly the ongoing supply/demand imbalance”, said Managing Director of Carlyle European Real Estate, Robert Hodges.
There are about 260,000 full-time students in London who need accommodation, but 16% of them have place to live.
The Companies have entered into a joint venture after Carlyle hit the market of student accommodation last year in Netherlands.