US private equity firm Perella Weinberg Real Estate has invested €150 mln in The Student Hotel to fund expansion of the Amsterdam-based business into Europe.
US private equity firm Perella Weinberg Real Estate has invested €150 mln in The Student Hotel to fund expansion of the Amsterdam-based business into Europe.
The Student Hotel currently has a property in each of the following cities: Amsterdam, Rotterdam, Liège and The Hague.
It will now target 350- to 700-room sites in Paris, London, Madrid, Barcelona, Berlin, Frankfurt, Brighton, Edinburgh and Dublin.
Charlie McGregor, founder of The Student Hotel, said: ‘The growing number of international students deserves better and more accommodation options, no matter where they go in Europe, and it’s great to work with an investment partner that shares our vision to roll out high quality and community-driven student and hotel accommodation.’
The firm highlighted a recent OECD report that suggests the population of ‘internationally mobile’ students more than doubled from 2.1 million in 2000 to nearly 4.5 million in 2011, and is set to reach 7-8 million by 2020.
Perella Weinberg Real Estate is part of New York-headquartered Perella Weinberg Partners, a global advisory and asset management firm with around $11.5 bn (€9 bn) of commitments from institutional and private investors around the world.
