Private investment firm Ardian and living platform Rockfield have raised €550m of finance to spend on Purpose-Built Student Accommodation (PBSA).
The money will be spent on future acquisitions, as well as refinancing current assets.
Since the partnership was launched in 2024, there have been eight acquisitions across the Netherlands, Spain, Italy and Germany, comprised of 6,000 beds.
Antoine Leboulanger, co-head of capital markets and managing director of Ardian, said: “Securing this financing package is a significant milestone for our European PBSA strategy.
“It not only allows us to further optimize our existing portfolio, but also creates the capacity to capture new opportunities and accelerate growth in markets with strong structural demand.
“The facility is designed to grow with the venture, supporting both standing assets and new-build projects, and strengthening our ability to meet the rising demand for student accommodation across Europe.”
The money combines c.€450mi of pan-European facilities, signed with ING (also acting as Agent and Global Coordinator), Société Générale CIB and HSBC Continental Europe as Mandated Lead Arrangers, together with additional financing of more than €100 million supporting existing investments in Italy.
With a Core+ profile, the platform not only seeks to deliver long-term, risk-adjusted returns, but also to reduce greenhouse gas emissions in line with the Paris Agreement.
So far, all assets are targeting or have achieved leading ESG certifications such as BREEAM and LEED, with climate risk assessments, renewable energy procurement, and wellbeing-focused design integrated into each project.
