Macquarie Asset Management-backed European living sector real estate group Tribera has teamed up with Australia’s Aware Super to launch a German purpose-built student accommodation platform targeting an investment capacity of over €1bn.
The partnership which targets prime student housing across key German markets such as Berlin, Munich, Hamburg, Cologne and Frankfurt, will be managed by Tribera, the specialist living group majority-acquired by Macquarie Asset Management last year.
The partnership will target assets across key German markets, including Berlin, Munich, Hamburg, Cologne and Frankfurt, with asset, property and development management services to the platform provided by Tribera, a company minority owned by Macquarie.
Justin Hamer, CEO of Tribera, said: “The creation of this new partnership speaks to the confidence global investors have in the underlying fundamentals of the German student housing sector, as well as Tribera’s vision of transforming urban living.
“We are excited to partner with Aware Super in creating community-driven living spaces across key German cities that seamlessly integrate innovation, sustainability and customer service.”
Mathieu Elshout, Aware Super’s head of international and senior portfolio manager for property, UK, said: “Germany’s purpose-built student accommodation market offers exactly the kind of structural opportunity our global investment strategy is designed to capture – significant undersupply, strong and growing demand, and a compelling entry point as the market begins to institutionalise.
“The establishment of the partnership will enable us to diversify our property portfolio both geographically into continental Europe and into a new alternative sector, while partnering with experienced operators in European student housing. We believe it will deliver strong long-term, risk-adjusted returns for our 1.3m members.”
James Bechely-Crundall, managing director at Macquarie Asset Management, said: “Our investment in Tribera is aligned to our strategy of establishing and incubating specialist real estate managers in sectors we believe are supported by significant structural tailwinds.
“We have high conviction that a scalable market opportunity exists in the European student housing sector and that Tribera is well positioned to partner institutional capital with best-in-class real estate opportunities at scale. We look forward to continuing to work with the business and its capital partners to support their growth ambitions.”
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