Ivanhoé Cambridge, Bouwinvest and Greystar’s €1 Billion Young Professionals Accommodation Venture

Jones Day advised Greystar Real Estate Partners, LLC in relation to a joint venture for the development of purpose-built student accommodation and young professional accommodation in the Greater Paris region. Allen & Overy and Lacourte Raquin Tatar advised Ivanhoé Cambridge,

Global real estate institutional investment companies Ivanhoé Cambridge Holdings UK Ltd and Bouwinvest Real Estate Investors  alongside Greystar Real Estate Partners LLC, a global leader in the investment, development and management of high-quality rental housing properties, announced a new ‘develop-to-core’ venture focused on funding purpose-built student accommodation  and young professional accommodation in the Greater Paris Region, with an investment capacity of €1 billion.

This newly created platform will be governed through its board composed of Ivanhoé Cambridge as a majority shareholder, Bouwinvest and Greystar, which will also operationally manage the venture. The objective is to deploy funds to target new acquisitions, including ground-up developments and projects already under construction. The venture has already identified a significant pipeline of opportunities in the Paris Region and is targeting a number of initial acquisitions over the coming months.

The venture will focus on delivering best-in-class student and young professional accommodation, including exceptional amenities and services, with a preference for locations with exposure to the extensive Greater Paris public transport projects. This focus is aligned with the shareholders strategy in other major European cities, focusing on hubs with stable employment and long-term persistent rental housing demand, such as London, Berlin, Amsterdam and Vienna.

The venture will leverage Greystar’s expertise of nearly 30 years in rental housing (conventional multifamily, student and senior living) in more than thirteen countries and its vertically integrated global investment management platform, enabling the venture to deploy this global knowledge whilst specifically tailoring its accommodation and services to local requirements.

Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world.

Bouwinvest Real Estate Investors B.V. specialises in managing real estate portfolios for institutional investors.

Greystar is a leading, fully integrated real estate company offering expertise in investment management, development, and management of rental housing properties globally.

The Jones Day team was led by Audrey Bontemps (Picture),  Alexandre Heydel (M&A), Carol Khoury (Real Estate) and Jean-Michel Bobillo (Employment).

Involved fees earner: Antoine Chatry – Allen & Overy; Antoine Gueche – Allen & Overy; Antoine Messent – Allen & Overy; Anne-Caroline Payelle – Allen & Overy; Romy Richter – Allen & Overy; Alexandre Heydel – Gide Loyrette Nouel; Jean-Michel Bobillo – Jones Day; Audrey Bontemps – Jones Day; Giles Elliott – Jones Day; Carol Khoury – Jones Day; Florian Louvet – Lacourte Raquin Tatar; Enora Mangin – Lacourte Raquin Tatar; David Sorel – Lacourte Raquin Tatar;

Law Firms: Allen & Overy; Gide Loyrette Nouel; Jones Day; Lacourte Raquin Tatar;

Clients: Greystar Real Estate Partners, LLC; Ivanhoe Cambridge;