New company Primevest Capital Partners has bought its first student housing in the Dutch city Groningen on behalf of a European property separate account mandate.

Primevest said it bought the 6,427sqm building complex from Plegt-Vos-Bouwgroep for an undisclosed sum. Construction of the asset, which includes 275 studios, is expected to complete in September.

Primevest is a pan-European investment boutique, specialising in real asset investment strategies. The company was formed in March last year by the former management team of Bouwfonds Investment Management and family-office investor CommonWealth Investments.

It currently has €1.5bn in assets invested in Europe and intends to further extend its activities in the residential sector.