UXCO Group, the French student housing and co-living specialist company, has added €200 mln of deals to its portfolio so far this year surpassing €1 bn of investments overall.
The firm, which is 90% owned by Canada’s Brookfield, is investing in a new ECLA branded residence on the University of Bordeaux campus, with the deal structured as a forward-purchase arrangement. It follows the addition of two Uxco student residences in Toulouse and Saint Etienne.
Uxco’s CEO told PropertyEU in an interview published in August this year how it aims to have 25,000 beds by 2027. Mael Aoustin said to accelerate expansion it would lean on its development arm, Oceanis Promotion, which is the case for the latest addition in Bordeaux.
The group now has 13,750 beds.
Aoustin said: ‘I am delighted about the signing of this new ECLA coliving residence, in partnership with the University of Bordeaux. This acquisition perfectly exemplifies the solutions required to meet the housing needs of students and young professionals in France.'
'After a back-to-school season in 2023 where our residences are operating with close to 100% occupancy, we are confident in the relevance of our concepts, which are also perfectly suited to the challenges faced by university campuses.’
Uxco was advised by the notary offices C&C Notaires, and the legal firm Gide on the financing. Finance was supplied by Société Générale and advised by the notary Cheuvreux and legal firm Allen & Overy.
