Partners Group, the Swiss-based global private markets firm, and DeA Capital Real Estate have formed a JV with Camplus, an operator and the leader in student housing in Italy.
The JV will develop and operate next generation purpose-built student accommodation (PBSA) assets in Europe and aims to become a market leader in the space, targeting over 5,000 beds, they said in a statement.
The JV will be seeded with two development projects - Camplus Ivry, a 448-bed scheme at Ivry-Sur Seine, Paris and Camplus 22@, a 250-bed development site in the 22@ technology district in Barcelona.
Both projects will be targeting green certifications, including NF HQE Habitat Excellent in France and BREEAM Very Good in Spain, along with WELL and WiredScore certifications.
There are other deals in the pipeline.
Partners Group wants to continue building its presence in the student housing sector with this being its first platform expansion into continental Europe PBSA following its partnership with Host in the UK.
Camplus' expansion into France and Spain is part of its strategic plan to expand beyond Italy where the firm is the largest provider of student accommodation, managing over 11,000 beds in 16 cities.
Alice Saini, member of management Private Real Estate Europe, and Anne-Jan Jager, MD, co-Head Private Real Estate Europe, Partners Group, said: ‘The launch of this student housing platform in continental Europe is evidence of our thematic work in action. We have strong conviction in the European student housing sector, especially given the current undersupply of new purpose-built, amenitised student housing in key university cities.’
DeA Capital Real Estate is the Italian-headquartered Pan-European Investment Management company.
Emanuele Caniggia, CEO, and Emanuele Dubini, CIO and head of International, explained the opportunity: ‘With around 2.9 and 1.6 million students respectively, France and Spain are two of Europe's largest and fastest growing student markets.’
‘Demand for student accommodation remains structurally underpinned by demographic tailwinds. Paris and Barcelona clearly show strong market fundamentals. This strategic JV is of great importance to our international real estate platform.’
Maurizio Carvelli, CEO and founder of Camplus, added the operator brought to the table over 30 years of sector expertise and innovation in terms of student experience, customer engagement and support services.
Camplus Ivry will be delivered as part of a wider urban regeneration program by leading French developer Cogedim. The site is located in the Ivry-sur-Seine arrondissement and has an established student population with direct access on public transport to the major university campuses of the Paris 1 Panthéon-Sorbonne University, Université Paris Cité and Paris School of Economics (PSE). Camplus 22@ is located in the 22@ district, one of the key innovation districts in Europe.