EQT Real Estate has acquired a former museum in France’s capital and plans to transform it into student accommodation.
The investment firm’s EQT Real Estate II fund bought the 1,800sqm building in the Docks de Saint-Ouen district of Paris, formerly the Pierre Cardin Museum, for an undisclosed sum.
The building is being converted into a 202-unit student residence, scheduled to open for the 2026-27 academic year.
Sébastien Morizot, senior director, France at EQT Real Estate, said: “This project embodies EQT Real Estate’s commitment to invest in next-generation student residences that prioritise quality of life, innovation and environmental sustainability. The demand for student housing far exceeds supply, and we are confident that these residences will improve student living conditions by offering modern, connected and sustainable spaces.
“We will continue to build on this momentum, accelerating our investments in France’s main university cities to help transform the student housing sector.”
Russell Petrie, head of student accommodation in Europe at EQT Real Estate, said: “We are delighted to complete our third student housing investment in France, reinforcing EQT Real Estate’s living-strategies focus on this theme in Europe and the UK.
“The transformation of the Saint-Ouen site reflects our commitment to investing in innovative and sustainable projects that deliver high-quality student living in a market with significant unmet demand. This acquisition marks an important step in our ambition to expand our student housing footprint in France and across Europe.”
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