Dref has sold a portfolio of 13 Student Homes in attractive student cities to TPG and Roundhill. The buildings are in Berlin (3x), Stuttgart (2x), Kiel (2x) and in other University Cities with highly undersupplied residential markets such as Essen.
The Building are all in good locations near universities or universities of applied sciences and have a size of 100 to 300 units in average.
The parties agreed not to disclose the purchase price.
The properties were part of a larger portfolio that DREF accumulated from 2015 to 2018
TPG and Roundhill will operate the student homes under the NIDO brand. NIDO is regarded as a good quality operator in the UK.
“The market for student housing in Germany stays interesting. We have seen this asset class growing and observed a consolidation of the existing platforms. We are happy to see our buildings now being operated under the NIDO brand, one of the well-regarded operators for student housing in Europe. Our focus is to further acquire single properties with value add possibilities. We are also actively looking into the Austrian market”
Felix Bauer Chairman & Co-Founder Deutsche Real Estate Funds™