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New PBSA Acquisitions For Investors PATRIZIA AG

Posted by Calum Martin in ,

Image courtesy of Flickr, (View licence)

PATRIZIA AG, a partner for global real assets, has invested in two purpose-built student accommodation (PBSA) buildings in Dublin. This marks the companies first investment in the student housing sector in Ireland.

The Thomas Street and Parkgate buildings were completed in 2018 and 2019 respectively and provide 576 rooms for the city's student-dense population.

Fresh Student Living currently manages the two assets, and it is expected that the operator will continue to do so.

Antonio Marin-Bataller, Director, Pan-European Transactions at PATRIZIA stated:

"The purchase of these two assets marks PATRIZIA's debut in Ireland's student housing sector and underlines our commitment to providing high-quality accommodation that delivers for both our clients and the needs of the community.

"The alternatives sector, particularly 'living alternatives' such as purpose-built student accommodation provides an exciting growth opportunity for our institutional clients given the low levels of supply across Europe. Like many major European cities, Dublin has a growing student population but with a supply-demand imbalance of good quality accommodation. With this investment, we aim to continue our student housing investment strategy across Europe well into 2022 and beyond and look forward to securing further such opportunities for our clients."