LJ Group Partners With Cresco Capital Group and Commits €100m to German Student Housing Platform
LJ Group, the leading privately owned multi-family office, has committed a total of €100 million of equity to Cresco Capital Group’s German student housing venture, Cresco Urban Yurt.
The partnership has made its first acquisition, a landmark building on Frankfurter Tor in Berlin and will invest in excess of €60 million into the development. The LJ Group has partnered with the Cresco Capital Group to create a student housing investment, development and operations platform to deliver managed student housing in leading German university cities.
The partnership also announced its first major property acquisition on Frankfurter Tor in Berlin, which it plans to redevelop into around 552 apartments, including ground floor and basement retail units …