Patrizia Immobilien has invested in a student housing asset in Münster.
The investment manager bought the 200-unit asset in the German city for an undisclosed amount.
The 6,300 sqm property, which was sold by a Dutch investment company, is 5km from the city centre of Münster.
“We have been experiencing an increasing level of interest in student accommodation from institutional investors,” said Johannes Altmayr, head of residential acquisitions at Patrizia.
The fully-let property, he said, is of “high quality in an area that is greatly in demand due it being a well-established site within a stable district”.
Münster, the location of the Westfälische Wilhelms Universität, is home to 50,000 students, around 20% of the city’s entire population of 310,000.
“We anticipate that this population, and the subsequent demand for high-quality, affordable student accommodation in the area, is set to grow further in the coming years,” Altmayr said.