#exporeal New investor joins German student housing specialist DREF

Stephan Rind, founder and former CEO of German residential property company Colonia, is taking up to an 8% stake in German student housing specialist Deutsche Real Estate Funds (DREF).

Rind has also been named chairman of DREF's advisory board, it was announced at a press conference held at Expo Real in Munich.

The other members of the advisory board are Max von Bismarck, Klaus Thalheimer and Andrew Thornton, CEO of the DREF co-shareholder Internos Global Investors.

DREF is one of the leading providers of student housing in Germany. In the past four months, the company has invested €110 mln in student residences. DREF plans to invest an additional €70 mln in the coming months.

'In the field of student housing, we have a great deal of pent-up demand in Germany. This factor is of huge importance for the future of Germany as a residential, educational and university location,' Rind said.

'DREF will assume a key role in extending this infrastructure, as the company has already impressively demonstrated in the past. I look forward to proactively accompanying the further development of the organisation as chairman of the advisory board and also as a shareholder,' Rind added.

Rind was CEO and founder of Colonia Real Estate, a German residential landlord which was sold along with its 40,000-unit portfolio to TAG Real Estate in 2010.

He is also co-founder of JCR Invest, headquartered in Berlin. Via its subsidiary EUREAS (European Real Assets), JCR Invest makes investments in selected real estate and infrastructure projects in Germany, Austria and Switzerland. Rind is investing in DREF via EUREAS, as well as directly, to build up the 8% holding.