Frequently supported by global influences, national demographics, local migration and historic undersupply, residential strategies provide the opportunity to capture inflation, with the need for planning/zoning approval and inflated construction costs restricting future supply.
Residential Strategies
UK Student Accommodation
90 North has extensive experience with UK purpose built student accommodation over the last decade, with 3,000 beds currently under management. With a very compelling and growing demand versus supply imbalance, underpinned by a rapidly growing number of domestic 18 year olds, compelling opportunities exist for both investment and development transactions across the UK.
US Multifamily
Hybrid office and home working has changed where and what housing is needed, with inflated home purchase costs making occupiers increasingly reliant on rental properties. Both interstate and intrastate migration are creating localised outperformance, with rent affordability being increasingly pertinent. As well as Midwest value-add investments, working with best-in-class developers provides options across the US.
Example Investments
Vantage House Residential Development, London, UK
Purchased as office accommodation in London’s midtown, considerable value was added by achieving residential planning consent.
Developed as 20 top specification apartments many with fantastic views over the city, all the units were sold with the development outperforming original projections.
800 Bristol Road Student Accommodation, Birmingham, UK
Purchased as an investment, this modern purpose-built student accommodation comprises 103 studio flats, located in the heart of Selly Oak, an established student location for the University of Birmingham.
Class leading amenities include a cinema room, dinner party room, gym, study rooms and a residents lounge.
Prime Life Care Home Portfolio, East Midlands, UK
Negotiating a 35 year leaseback to the care home operator, considerable value was added at acquisition of this 510 registered care beds in 10 purpose built properties.
With the homes providing a variety of care with a specialism in dementia care, the portfolio was sold once a track record had been establishing, realising a significant uplift.