CA Ventures Launches Novel Student Platform

CA Ventures, a Chicago-based global investment management company, has announced the launch of Novel Student.

Described as a pioneering property management platform, the company will operate the firm's portfolio of PBSA assets through Europe.

Novel's first three sites are in Glasgow, Edinburgh and Sheffield and contain a combined 852 beds. All three are due to open in time for the 2021-2022 academic year.

Commenting on the launch of the new operator, John Diedrich, global head of investments for CA, said: "In early 2018, we announced our expansion into the European purpose-built student accommodation market and, since then, have developed a premium product that caters to the needs and aspirations of today's students."

"With an international student portfolio that includes more than 20,000 beds, CA understands how to pair thoughtful, sustainable design with best-in-class services and amenities to create dynamic residential environments with universal appeal. Novel takes that successful model and customises it for the fast-growing European market."

Each of the three Novel sites will contain a range of share facilities designed to form a sense of community. Amenities include things like, breakfast bars with complimentary coffee service, study and meeting rooms, tea lounges, and abundant outdoor space.

The Novel platform includes a number of developments across Europe, with additional locations in Ireland, Spain, Italy and Poland. CA will also provide third-party management services, allowing other PBSA investors to benefit from Novel's operational platform.