Greystar has announced the acquisition of two purpose-built student accommodation (PBSA) assets, “The Neighbourhood,” located in Cardiff and Exeter. The €71.4 million deal adds 400 high-quality student beds to Greystar’s growing UK portfolio, with 240 beds in Cardiff and 160 in Exeter. This acquisition brings Greystar’s UK PBSA portfolio to over 35,000 beds, reinforcing its position as a leading provider of professionally managed student housing.
Both properties, developed by Ethos Property, will now operate under Greystar’s Canvas brand, which is dedicated to creating community-oriented environments designed to enrich the student living experience. The Neighbourhood features premium amenities, including gyms, cinema rooms, karaoke spaces, and exclusive resident events that foster a vibrant and inclusive community.
The acquisition reflects Greystar’s strategic focus on expanding in key UK student markets, where demand for high-quality, professionally managed accommodations is on the rise due to increasing student numbers. Cardiff and Exeter, both home to major universities with growing student populations, are prime locations for such investments.
Source: europe-re.com on the 27th of January 2025
https://europe-re.com/greystar-acquired-student-accommodation-assets-for-71-4m-gb/73914