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Europa Generation Raises Almost £100m

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Europa Generation, a joint venture between Europa Capital and Generation Estates has raised almost £100m for its UK student accommodation fund.

The Europa Generation Student Fund already manages assets worth £180m and has held its first close by bringing in several unnamed global institutional investors.

The fund was set up nearly two years ago when fund manager Europa Capital used its balance sheet to seed it with a £165m portfolio.

Generation Estates manages 1,561 beds across Bath, Newcastle, Sheffield, Aberdeen and Bournemouth.

The fund also has an additional 144 beds in Oxford that are due to become operational this year.

Europa Capital is looking to establish a portfolio of modern purpose-built student accommodation in UK cities and will seek to exploit those that show favourable market dynamics.

Commenting on the fund, Alan Artus, partner at Europa Generation, said: "The student accommodation sector remains a highly attractive market that is resilient to economic headwinds and continues to offer favourable supply and demand dynamics."

"The shortage of modern, high quality accommodation in leading university towns and cities is demonstrated by the strong level of demand we have seen across our operational portfolio."