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Heitman expands portfolio with purpose-built student accommodation

A global real estate investment management firm, Heitman LLC, has just announced that it has invested in the Hollis Building, Bath, which is a 120-bed student housing development in an off-market transaction with Alumno Group, a leading student housing developer based in London.

The investment by Heitman has been made in connection with its global strategy.

“We are pleased to continue our partnership with Alumno Group and deliver premium student housing assets for the UK’s growing domestic and international student populations,” said Caleb Mercer, Heitman managing director of European real estate investment. “The need for student-specific housing remains significant as demand for space continues to outpace supply.”


Mercer added, “The resiliency of purpose-built student accommodation has been clearly evidenced over the past year. Demand for student housing remains intact and is expected to accelerate as the sector continues to benefit from steady occupancy gains, strong investor interest, and high barriers to entry.”

Heitman’s history

Founded in 1966, Heitman LLC is a global real estate investment management firm with more than $53 billion in assets under management. Heitman’s real estate investment strategies include direct investments in the equity or debt capitalization of a property or in the securities of listed and publicly traded real estate companies.

Heitman serves a global client base with clients from North American, European, Middle Eastern and Asia-Pacific institutions, pension plans, foundations and corporations and individual investors. Headquartered in Chicago, with additional offices in North America, Europe, and Asia-Pacific, Heitman’s approximately 350 employees offer specialized expertise – from a specific discipline to local insight.

An accommodating venture

The asset is well-located to service both Bath Spa University and the University of Bath, allowing provision for housing to the city’s dynamic and growing student population.

The development will feature a biodiverse green roof and photo-voltaic panels to meet part of the project’s energy needs.

“As we continue to construct our global portfolio against the background of a volatile market, we are focused on acquiring high-quality assets that provide robust portfolio risk diversification—including by region, property type, and demand driver. The investment in Bath fits that profile as student housing continues to attract delinked demand and the UK remains a pillar of higher education globally,” said Gordon Black, Heitman senior managing director and global portfolio manager.

David Campbell, founder and managing director of Alumno added, “We are delighted to be working with Heitman again on this exciting new project and building on our solid relationship. The need for good quality, purpose-built student accommodation in the UK remains very high, with the University of Bath supporting the planning application for this scheme.”

Upon completion, Hollis Building will be operated by Homes for Students, the UK’s largest independent student housing operator.


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