Canada Pension Plan Investments (CPP Investments) has acquired Nido Living and taken full ownership of its existing joint venture with Roundhill Capital, creating a European student housing platform with over 5,000 beds. I built it.
Roundhill Capital acquired Nido Living in 2012 and entered into a European student accommodation investment partnership with CPP Investments in late 2021.
CPP Investments has announced it will invest up to C$40 million (€27.4 million) to establish a wholly-owned real estate investment and operations platform focused on purpose-built student accommodation (PBSA) in continental Europe.
The new platform, known as Nido, will be independently operated based on CPP Investments’ real estate strategy. In addition to managing the existing CPP investment portfolio, Nido will continue to manage PBSA assets for other international investors.
The platform’s initial focus will be on Germany, Italy and Spain, with a strategy to acquire and develop new assets to create a pan-European portfolio.
Tom Jackson, Managing Director and Head of European Real Estate at CPP Investments, said: “CPP Investments and Nido are well-positioned to work together to meet the growing demand for high-quality PBSA across Europe.” said. Increased student mobility and increased participation in higher education is driving demand for high-quality, affordable student housing.
“In Europe, the number of students is increasing as the labor market upskills, resulting in increased pressure on accommodation, making this platform well positioned to deliver strong risk-adjusted returns to CPP funds. It’s in a good position.”
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