Bouwfonds Investment Management has announced plans to launch a second student housing fund with a target investment volume of 鈧�400 mln.
Bouwfonds European Student Housing Fund II is currently in the planning stages and will target assets in economically strong cities in the Eurozone and Poland.
Compared to the previous fund, the investment focus will be expanded with the new vehicle also being allowed to acquire operator-run student housing, the company said. The fund will target returns (IRR) of 5.0%.
'Demand for student housing investment opportunities continues to be high among institutional investors, as we鈥檝e learned from numerous discussions with European investors,' said Martin Eberhardt, managing director client relations of Bouwfonds IM. 'In recent years, Bouwfonds has become a frontrunner and market leader in the student housing segment, building up a very good pan-European track record.'
The Dutch firm has bought a total of 24 student housing assets since 2010 for a total investment volume of 鈧�433 mln. The properties, comprising around 5,650 residential units, are located in Germany, the UK, France and the Netherlands.
'We have a very well-endowed acquisition pipeline,' added Michiel Dubois, managing director residential real estate. 'It seems we are able to break the 鈧�500 mln mark in the acquisition of student housing in Europe.'
Bouwfonds' initial student housing fund, Bouwfonds European Student Housing Fund I, was fully placed at the end of 2015, and is now nearing the end of its investment phase, set to be completed by the end of 2016.
