Paris — Greystar Real Estate Partners, Ivanhoé Cambridge Holdings and Bouwinvest Real Estate Investors have launched a $1.1 billion venture focused on the acquisition and development of purpose-built student and young professional housing in the greater Paris region.
This newly created platform will be governed through its board composed of Ivanhoé Cambridge as a majority shareholder, Bouwinvest and Greystar. The venture has already identified a significant pipeline of opportunities in the greater Paris region and is targeting a number of initial acquisitions over the coming months.
“We have been active in France for close to two years and have built a successful portfolio of owned and managed assets across the country,” says Hideki Kurata, managing director – France at Greystar. “Our new venture with Ivanhoé Cambridge and Bouwinvest will help us to build a highly-amenitized portfolio from the ground-up in an underserved global city with strong market fundamentals.”
“Paris is home to a number of world-class employers and higher education institutions and famously has a vibrant culture that attracts both domestic and international students to study,” continues Kurata. “Coupled with the city’s ambitious public transport program, which will further improve connections across Paris, there is no better time to get this venture off the ground.”