The Australian Giant of Finance Macquarie has concluded an agreement to buy two companies specializing in student housing in Europe, which manage more than 12,000 beds, thus marking the latest example of the growing interest of foreign investors for this sector.
In a press release, Macquarie announced the acquisition of two investment platforms specializing in student housing, Milestone and Bassetack Living, for an unveiled amount. The group refused to comment on the value of the transaction.
This operation is part of the macquarie strategy aimed at developing its international market branch internationally, after having sold its international public assets to Nomura.
Student housing is now established as a very popular real estate market segment, investors being attracted by the prospect of attractive yields, at a time when the prices of traditional assets such as offices stagnate.
With this acquisition, Macquarie is positioned against other major investors in the sector, including Blackstone, Legal & General and Greystar.
According to a survey conducted in June by the Professional Inrev Association, student housing is now the most sought -after real estate asset category by European investors, in front of traditional rental housing.
The platforms acquired by Macquarie cover property located in Germany, Austria, the Netherlands, Poland, Italy, Spain, Portugal and Denmark. Macquarie plans to gradually extend its activity to other European markets, said Brendan Jones, real estate manager for Europe, the Middle East and Africa at Macquarie Asset Management.
Justin Hamer, owner of Basetack Living, will take the lead in the new group specializing in student housing as Managing Director.