Cain is expanding its pan-European living platform with the launch of a purpose-built student accommodation (PBSA) strategy in the UK.
The global real estate fund manager’s newly launched London PBSA strategy, which is targeting the delivery of 2,000 beds, has secured a 353-bed development on the Greenwich Peninsula as its first asset.
The 18-storey tower, to be developed in partnership with RG Group’s development arm RG Real Estate (RGRE), is expected to be completed ahead of the 2029/30 academic year.
The latest project expands the collaboration between Cain and RG Group, which are already partnering on schemes in Leeds and Bristol.
Arvi Luoma, CIO at Cain, said: “London is the world’s largest student city and continues to attract both domestic and international students seeking world-class education and long-term career opportunities.
“We have an established PBSA platform with strong development partnerships across the UK having already delivered assets across a number of major university cities, and continue to see a significant opportunity to scale the platform through high-quality product in some of Europe’s most dynamic university markets.”
Oliver Cummings, managing director, head of PBSA at Cain, said: “Greenwich is a compelling starting point for our London ambitions, combining excellent connectivity to London’s leading global universities with proximity to Canary Wharf and the extensive amenities around the O2 Arena.
“London continues to face a severe shortage of high-quality student accommodation and we believe well-located, highly-amenitised schemes such as this will continue to attract long-term demand.”
Nick Hayes, managing director at RGRE, said: “It has been a pleasure working with Cain and their professional team to get this deal over the line. We specialise in transforming complex projects into secure, predictable investments and this project showcased the very best of what we offer.
“Our focus is on building long-term, strategic partnerships founded on trust, expertise and shared ambition.”
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