Ivanhoé Cambridge, Bouwinvest and Greystar Launch Paris Student and Young Professionals Accommodation Venture with €1 Billion Investment Capacity
Global real estate institutional investment companies Ivanhoé Cambridge Holdings UK Ltd (“Ivanhoé Cambridge”) and Bouwinvest Real Estate Investors (“Bouwinvest”) alongside Greystar Real Estate Partners LLC (“Greystar”), a global leader in the investment, development and management of high-quality rental housing properties, today announced a new ‘develop-to-core’ venture focused on funding purpose-built student accommodation (“PBSA”) and young professional accommodation in the Greater Paris Region, with an investment capacity of €1 billion.
This newly created platform will be governed through its board composed of Ivanhoé Cambridge as a majority shareholder, Bouwinvest and Greystar, which will also operationally manage the venture. The objective is to deploy funds to target new acquisitions, including ground-up developments and projects already under construction. The venture has already identified a significant pipeline of opportunities in the Paris Region and is targeting a number of initial acquisitions over the coming months.
The venture will focus on delivering best-in-class student and young professional accommodation, including exceptional amenities and services, with a preference for locations with exposure to the extensive Greater Paris public transport projects. This focus is aligned with the shareholders strategy in other major European cities, focusing on hubs with stable employment and long-term persistent rental housing demand, such as London, Berlin, Amsterdam and Vienna …