KR Developments has entered into an agreement with global real estate investment management company – CA Ventures. The agreement will see KR Developments managing the development of a new 430 bed purpose-built student accommodation (PBSA) scheme at 366 Cathedral Street in Glasgow. The new 20 storey building is the first development for CA Ventures in the UK.
KR Developments has also secured a second project for CA Ventures at Dart Square in Sheffield. The proposed 250 bed PBSA development is directly across from the University of Sheffield’s Geography and Arts buildings. Planning permission is in place for the new 16 storey building – and KR Developments aim to complete the scheme in time for the start of the 2021 academic year.
The two companies are also working on a number of other opportunities – with the next project announcement due soon. CA Ventures Venture Capital Fund has already invested over $7.5bn in student accommodation across the US – and has announced that it will invest £400m in PBSA development in the UK and mainland Europe by 2020.
Back in August 2020, the company also announced the launch of its European management platform to operate its PBSA in Europe.