Key facts
- Greystar acquired a 216-bed purpose-built student accommodation property in Dublin.
- The acquisition was made by Greystar Equity Partners Europe II, a pan-European value-add residential fund.
- The fund has secured over €2.7 billion in commitments.
- The property will be operated under Greystar's student accommodation brand, Canvas.
- Greystar has also invested in multifamily apartments in Dublin.
Greystar has expanded its European living platform with the acquisition of a 216-bed purpose-built student accommodation (PBSA) property on Church Street in Dublin. The seller was Jersey-based investment firm Valeo Groupe Europe, and the sum was undisclosed. This acquisition marks Greystar's third significant investment in Ireland's PBSA sector, following previous acquisitions in Dublin and Galway that collectively provide 1,906 student beds. The transaction was executed on behalf of Greystar Equity Partners Europe II (GEPE II), a recently closed pan-European value-add residential fund that garnered over €2.7 billion in commitments, translating to €6.8 billion in investment capacity for key European residential markets. The acquired property, which has maintained high occupancy rates since its opening in 2018, will now be managed under Canvas, Greystar's pan-European student accommodation brand. Greystar also has a substantial multifamily housing presence in Dublin, with nearly 900 apartments acquired across various developments. GEPE II, which is more than 76% larger than its predecessor fund, is actively deploying capital across acquisition and development opportunities in multiple European countries, focusing on purpose-designed multifamily and student accommodation. The fund aims to create new-generation assets with high sustainability standards and attainable rents. Prior to this latest Dublin deal, GEPE II had already invested or committed over €910 million across 28 investments, totaling nearly 13,000 homes and beds. Greystar's overall European platform manages or operates more than €19 billion in assets, encompassing over 91,000 build-to-rent homes and PBSA beds across eight countries.