Bouwfonds Investment Management (IM) has acquired three new student houses for its pan-European residential funds for a total of almost €39 mln.

Bouwfonds Investment Management (IM) has acquired three new student houses for its pan-European residential funds for a total of almost €39 mln.

The properties in the Scottish capital Edinburgh, Grenoble in France and Göttingen, Germany, were acquired for the Bouwfonds European Student Housing Fund and the Bouwfonds European Residential Fund.

Bouwfonds IM is acting as the residential property portfolio and asset manager for both funds, and is serviced by the KVG’s Institutional Investment-Partners (2IP) and Catella AG.

The Edinburgh acquisition, with a purchase price of €12.4 mln, is Bouwfonds IM's second purchase in the UK and comprises 53 studio apartments with 135 beds.

The Grenoble site, acquired for €16.2 mln, is a development project which will be delivered in 2016 and contains 233 residential units, some commercial spaces and inside parking spaces.

The Göttingen property was acquired for €10.2 mln and comprises 146 well-situated residential units, as well as 30 parking spaces.