The purchase of Scape Dublin sees Hines continue its strategy of building a portfolio of prime PBSA assets in European locations where demand is strong and supply is constrained.
The acquisition follows the announcement by Hines in March this year that HEPP would forward-fund the 260-bed ‘Gas Lane’ development in Bristol, UK. While in February the firm’s value fund series, Hines European Real Estate Partners (HEREP) committed to fund two large scale student living projects in Paris that plans to deliver an additional 1,300 beds once completed.
Scape Dublin, the 298-bed student accommodation facility, which opened in 2020, will be rebranded aparto Dublin Stephen’s Quarter following the acquisition. It will become the firm’s sixth PBSA asset in Dublin and brings the total number of beds managed by its European PBSA management brand aparto to over 6,700 across Europe as of September 2024.
