LONDON—In its second UK student housing joint venture in as many weeks, Harrison Street Real Estate Capital said Tuesday it would partner with Crosslane Property Group UK Ltd. Initially, the Harrison Street/Crosslane JV will jointly develop a portfolio of four purpose-built student housing properties totaling 1,267 beds in the university cities of Leeds, Coventry, Portsmouth and Swansea. Gross development value for the four properties is £125 million, or approximately US$175 million.

“We continue to build momentum as the partner of choice for the leading developers and managers of student housing across Europe,” says Robert Mathias, senior managing director and head of international at Chicago-based Harrison Street. “Crosslane has an excellent track record, unique opportunity set and robust development pipeline in attractive university markets across Europe.”

The Leeds development is already under construction and will be complete by September 2018 for the start of the 2018/19 academic year. Earlier this month, Crosslane said it had begun development of the Coventry property, which is scheduled for delivery in the 2019/20 academic year, as are the Portsmouth and Swansea projects. Prime Student Living, Crosslane's student housing leasing and management arm, will manage all four properties upon completion.