London—Dentons has advised Harrison Street Real Estate Capital on its acquisition of a student housing development in Howard Gardens, Cardiff, under its joint venture with Crosslane Student Developments Limited.

 

The 391-bed purpose-built student accommodation development, located at the northern end of Howard Gardens in Cardiff, is the fifth development under the joint venture. The JV was announced in January 2018 and initially comprised four new student accommodation developments in Leeds, Coventry, Portsmouth and Swansea.

 

The addition of Howard Gardens in Cardiff brings the total combined portfolio to 1,685 beds. Investec Structured Property Finance is providing debt financing for the development of the Cardiff scheme.

 

Jonathan Cantor, partner in Dentons' Corporate team who led on the transaction, said, "We are delighted to have advised Harrison Street on this joint venture's latest project. These developments continue to show the strength of the student accommodation sector, with demand continuing to grow across the UK. We look forward to continuing to support Harrison Street in 2019."

 

Alongside Jonathan Cantor, the Dentons team included Real Estate partner Lewis Myers and senior associate Harleen Kandola, Banking and Finance partner Simon Tweedle and associate Finn Boyle, Planning senior associate Fiona Gordon, Construction senior associate Paul Young, and Corporate associate Faria Rahman and trainee Mashaal Mayet.