Chigago’s CA Ventures has entered the European market and expects to invest heavily in student accommodation in the UK and Ireland.
CA has delivered some 50,000 beds in North America and now plans to invest £500m a year in the UK and Ireland by 2021.
The firm also plans to enter other European markets, with commitments in its development pipeline of £300m a year in the Netherlands, Spain, Portugal and Italy.
Carlo Matta, head of Europe at CA Ventures, said: “Outside of the US, the UK is the largest destination for international students but remains severely under-supplied with purpose-built student accommodation. The UK government’s recent extension to residency rights for international students, post-graduation, is a great signal to the global student community. We see a significant opportunity in the UK, Ireland and continental Europe, to deliver a modern, high-quality student living experience.”
The news comes after EG reported earlier this month that Investec had agreed to provide a £64m loan for the North American student accommodation developer to dip its toe in the UK market.
The loan will fund the development of purpose-built student accommodation with a total of 888 beds across Glasgow, Edinburgh and Sheffield. It marks Investec’s largest PBSA loan to date.
Headed by Carlo Matta, who previously held senior roles at Optimum Asset Management, Actis and Hines, CA’s European headquarters are in Marylebone, London. The firm also has country officers in the Netherlands, Spain and Italy.
CA is targeting £1.3bn in ground-up development starts in Europe over the next three years.
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