Bouwfonds Investment Management (IM) acquired the three new student houses for its pan-european residential funds. The properties are located in Edinburgh, Grenoble and Göttingen and have been acquired for the Bouwfonds European Student Housing Fund and the Bouwfonds European Residential Fund. The total investment volume amounts to EUR 38.8 million.

The new acquisitions comprise a total of 432 residential units. Bouwfonds IM is acting as the residential property portfolio and asset manager for both funds, and is serviced by the KVG’s Institutional Investment-Partners (2IP) and Catella AG.

The Edinburgh acquisition is the 2nd acquisition of Bouwfonds IM in the UK and in Edinburgh and the purchase price amounts EUR 12.4 million. The property exists of 53 studio apartments with 135 beds in total. With the acquisition in Grenoble the fund adds a development project of EUR 16.2 million to its portfolio, which will be delivered in 2016. It contains 233 residential units, some commercial space and inside parking spaces. The Göttingen property comprises 146 residential units and 30 outside parking spaces and is very well located. The acquisition price was EUR 10.2 million.