Ardian and Rockfield’s European student housing investment venture has added 1,500 beds following three transactions in France, Spain and Italy.
The deal includes the forward acquisition of projects in Milan and Bordeaux, totaling 754 beds, and the acquisition of a 750-bed standing asset in Barcelona. Financial details were undisclosed.
The Bordeaux deal marks the first acquisition for the partnership since its launch in the fourth quarter of 2024. The venture has since completed 12 transactions, representing 6,000 beds.
Omar Fjer, head of real estate France and MD, Ardian, said: “Our first PBSA investment in France represents a key milestone for our pan-European student housing platform.
“As the continental European country with the largest student population and a clear need for high-quality student accommodation, France offers strong fundamentals for investment in the sector.”
Mats Bartels, investment director Northern Europe, Rockfield, said: “Adding 1,500 units simultaneously via three selective transactions to our growing portfolio strengthens our footprint in Europe – and in particular reflects our first step in France. It is interesting to see that such a deep market with urgent demand heavily lacks high-quality supply.
“We see a window of opportunity and are actively sourcing both operating and forward deals in the major French PBSA markets, as we aim to scale our French portfolio as part of our European portfolio materially over the coming years.”
Luca Migliaccio, real estate MD, Ardian, said: “The acquisition of the new project in Viale Certosa represents an important step forward in our commitment to developing high-quality student accommodation in Italy’s main university cities. Milan, like Florence and Bologna, is among the most dynamic markets in Europe and faces a significant structural shortage of supply.
“This new investment brings the platform’s PBSA portfolio in Italy to a total of 2,000 beds, further strengthening our presence and our ability to address a real and growing need in the country.”
Josep Bellmunt, investment director Southern Europe, Rockfield, said: “This acquisition exemplifies the strength of our pan-European PBSA strategy and our belief in Barcelona’s innovation districts as key nodes for resilient, future-proof capital deployment.
“We see continued upside through active asset management, best-in-class operations and the delivery of sustainable, community-oriented living environments that appeal to today’s students and institutional investors alike.”
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