Centaline enters UK Student Housing Market (In Chinese Only)
Centaline Investment Webinar
(In Chinese Only)
Located in Chania, the most beautiful city on Crete island, Greece, it is close to hotels and restaurants in the Maleme tourist area, and is only a few steps away from Maleme beach.
In the past year, the project was operating smoothly and renovation works were successfully completed. The pre-leasing work in 2020/21 is also proceeding as planned. The pre-leasing rate and rental growth are in line with the target. The average rent, rental rate and valuations are as well on the up.
The two student housing apartments owned and managed by Centaline US Student Fund are located in San Antonio, Texas and Athens, Georgia, where the outbreak of COVID-19 is relatively contained. The local governments have already carried out policies to restrict social interactions and strengthen public hygiene.
The novel coronavirus (COVID-19) spreads across the globe and rapidly affects communities across the USA. During this threat, the comfort and safety of all our student housing residents and staff remain our No. 1 priority. We have been taking several actions to ensure the safety and security of their students, employees, and residents.
Many research have found that the “Recession Resilience” of student apartments is very high. During the 2008 Global financial crisis, the rental return of student apartments were very stable and the asset prices did not fluctuate greatly.
Centaline Investment Advisory has successfully represented a client to acquire two properties in Inner London. Both properties are Victorian style constructions in prime neighbourhoods.
With the joint efforts of the Centraline and the management team, The Estates on San Antonio has maintained a high occupancy rate since the acquisition. As of February 20th, 2020, the current occupancy rate of The Estates on San Antonio 2019/20 school term is 95%.
The current occupancy rate for the Eclipse on Broad 2019/20 school term is 98%. As of February 20th, 2020, the pre-lease rate for the 2020/21 school term reached 91% while the pre-lease rate for the same period last year was 72%. Due to the continued demand of the local student apartment market and the effective management of the management team, the rental rate has increased significantly since the acquisition. We expect to reach 100% full occupancy in the coming weeks.