CBRE Investment Management has committed a further €300m to Ardian and Rockfield’s European student housing investment venture.

In October last year, CBRE IM’s indirect private real estate arm committed an initial €500m as a founding investor in the new venture, set up to acquire core-plus purpose-built student accommodation properties in high-demand European markets such as Italy, the Netherlands, Spain, Portugal, Germany and France.

Ardian and Rockfield said CBRE IM has now made the follow-on commitment bringing its total commitment to the strategy to €800m.

The companies said the initial €500m equity commitment is almost fully deployed and that four upcoming acquisitions in France, Spain and the Netherlands will soon bring the platform to 5,000 beds.

Matteo Minardi, head of real estate Italy and MD at Ardian, said: “To have fully committed our seed capital so quickly – and to see CBRE IM increasing their exposure ahead of schedule – sends a very clear signal.

“It confirms that our thesis, timing and activity are strongly aligned with investor and market needs. We launched this strategy to solve a structural gap in Europe’s urban living needs, and this momentum shows that we’re delivering.”

Juan Manuel Acosta, CIO of Rockfield Real Estate, said: “We take immense pride in the platform we set out to build with Ardian, being able to deploy capital quickly without compromising on quality. Our in-house investment, development, operations and asset management model means is strategically designed to source, execute and deliver at scale in a way that reflects the social and environmental standards institutions and end-customers increasingly expect.

“CBRE IM’s renewed commitment is a strong endorsement of the model we’ve built and the opportunity ahead. We are grateful for the renewed trust the current and incoming investors are placing in us.”

Line Verroken, head of living investments for EMEA at CBRE IM indirect private real estate, said: “The student housing market in continental Europe remains a compelling and resilient growth opportunity. We are pleased to see our capital being strategically deployed to curate a high-quality portfolio of student assets in undersupplied European cities characterised by strong demand.

“This additional commitment underscores our long-term conviction in this asset class and reinforces our thematic investment approach.” 

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