US privately-held developer-investor Hines has announced the launch of its student housing platform in France and the commencement of two large-scale student living projects in Paris.
Hines said that the acquisitions are part of its plans to deliver over 4,000 beds in France over the next five years.
Paul White, fund manager of both HEREP III and HEVF 2 said: 'The creation of professionally managed, highly amenitised, purposed-built student living schemes in our preferred markets is a high-conviction investment theme for the HEREP fund series. The funds have ambitious plans to continue growing our living platform across Europe and are delighted to have secured two more purpose built student living opportunities in these prime locations in Paris on behalf of our investors.'
The first project is Liberté 1, a 26,500 m2 office building in Charenton-Le-Pont acquired from Covivio by the Hines European Real Estate Partners III (HEREP III) fund, which Hines plans to transform into a multi-use residential complex including 650 student beds. Located in Charenton-Le-Pont, the asset will be delivered by mid-2027.
The second opportunity sees Hines reveal plans for another 650-bed investment, this time on behalf of the Hines European Value Fund 2 (HEVF 2), via a 17,000 m2 complex located west of Paris in Hauts-de-Seine under the French ‘vente en l’état futur d’achèvement’ or ‘off plan’ process. The residence plans to feature a host of services - including a large rooftop - designed to enhance student wellbeing and create a home-away-from-home for student residents.
Upon completion, the two investments will be managed by aparto, Hines’ student living platform.
Hines set up aparto almost a decade ago as the in-house operating platform for its student accommodation investments in Europe. It now operates more than 6,000 student beds in the UK, Ireland, Spain and Italy. The projects will mark aparto’s entry into France.
Hines is aiming for the minimum standards of BREEAM Excellent and WELL certification, as well as the WiredScore Home label at the highest levels, for these first two projects.
