Two European funds managed by global real estate firm Hines have made student housing investments in France that will create around 1,300 new beds.

Hines European Real Estate Partners III (HEREP III) has acquired Liberté 1, a 26,500sqm office building in Charenton-Le-Pont, from Covivio with the intention of transforming the building into a multi-use residential complex including 650 student beds.

Hines European Value Fund 2 (HEVF 2) is also planning to transform a 17,000sqm complex located west of Paris in Hauts-de-Seine into a 650-bed scheme, Hines said.

Once completed, the two investments will be managed by Aparto, a student living platform owned by Hines, marking Aparto’s entry into France. Aparto, which was set up almost a decade ago, currently operates over 6,000 student beds in the UK, Ireland, Spain and Italy.

Paul White, fund manager of HEREP III and HEVF 2, said: “Hines’ scale and expertise as an investor, developer and manager make us uniquely placed to deliver value through the entire process of bringing these two new opportunities to life.

“The creation of professionally managed, highly amenitised, purpose-built student living schemes in our preferred markets is a high-conviction investment theme for the HEREP fund series. The funds have ambitious plans to continue growing our living platform across Europe and are delighted to have secured two more purpose-built student living opportunities in these prime locations in Paris on behalf of our investors.”

Xavier Musseau, senior managing director and country head of Hines France, said: “We are committed to playing our part in delivering the high-quality living space that France’s hugely successful eduction sector so clearly needs. 

“We believe the best-in-class service and community creation central to our student living strategy will make Hines the benchmark brand for student residences in France.”

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