German asset manager Commerz Real has acquired the student apartment complex Stoneybatter Place in Dublin for its Institutional Smart Living Europe Fund. The seller is Harrison Street Asset Management, represented by Savills Ireland. Financial details were not disclosed.
Stoneybatter Place was completed in 2023 and has 142 beds. In addition to the furnished apartments, it offers learning and lounge areas, a gym, as well as rooftop terraces. The operator is, and will remain, Mezzino, a company that specialises in student living in Ireland and Great Britain, and which also manages the residential complex Grangegorman House in Dublin acquired by the fund in 2025.
Commerz Real said the “decisive factor for the investment in Dublin” was the “long-term positive fundamental data of the location”.
The residential complex is close to being fully leased and is located in the eponymous Stoneybatter district, an inner-city quarter to the west of the city centre which has developed into a sought-after residential area in recent years. The campus of Technological University Dublin is within walking distance, and there are connections to other higher education sites and the city centre using two tramlines and several bus routes.
The open-ended special AIF Commerz Real Institutional Smart Living Fund invests in student accommodation and micro-apartment complexes in European metropolises and university cities on behalf of professional and semi-professional investors. In addition to the two properties in Dublin, the portfolio currently encompasses three further residential complexes in Frankfurt am Main, Seville and Vienna.
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