JP Morgan Asset Management (JPMAM) is expanding its presence in the European student and flexible living sectors through a German joint venture with iLive Group, which intends to develop a €1.5bn purpose-built student accommodation portfolio.
The venture, which intends to develop a student accommodation portfolio across major German cities, has already secured initial sites in Frankfurt and Berlin, comprising approximately 1,000 beds.
Michael Ramm, head and CIO of real estate Europe at JPMAM, said: “This partnership unlocks an exciting opportunity to deliver real value for our clients, partners and communities – building on an already successful student-living concept and helping to close Germany’s major gap in high-quality, modern student housing.”
Amos Engelhardt, CEO and founder of iLive, said: “We are proud to partner with JPMAM to further expand our high-quality student housing across Germany.
“Demand for modern, service-oriented living concepts continues to outpace supply in key university cities. This partnership represents an important milestone in scaling our platform and further strengthening our position as a leading provider in the German managed living sector.”
The latest partnership expands the European managed living platform of JPMAM, which has recently completed transactions in France and Spain.
In France, a partnership with QuinSpark acquired a purpose-built student accommodation portfolio comprising more than 1,300 beds in Greater Paris and Aix‑en‑Provence. In Spain, a collaboration with Grupo Lar aims to invest €600m in flexible living projects, having already secured initial developments in Madrid with approximately 1,000 beds.
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