13 Jun 2017 - Europa Capital and Generation Estates launch new UK Student Accommodation Vehicle

Europa Capital Partners (“Europa”) and Generation Estates Limited (“Generation”) are pleased to announce the launch of Europa Generation, a new joint venture created to manage a new UK student accommodation Fund.

The Europa Generation Student Fund will invest in prime purpose built student accommodation (“PBSA”) throughout the UK. The acquisition strategy is focused on investment opportunities where Europa Generation identifies potential for long term sustainable income growth. The Fund will acquire well located assets, through forward-funding of new developments, direct development and selective investment acquisitions.

Europa Generation has used Europa’s balance sheet to acquire an initial £165m seed portfolio, comprising 1,705 beds in six schemes currently being developed by Watkin Jones Group, a leading developer of purpose built student accommodation in the UK. The assets are situated in Oxford, Bath, Newcastle, Sheffield, Aberdeen and Bournemouth. The schemes in Bath, Newcastle, Sheffield, Aberdeen and Bournemouth are due for delivery in time for the 2018-19 academic year while the Oxford scheme will welcome students for the 2019-2020 academic year. Europa Generation intends to build a portfolio of around 5,000 beds over the next few years.

Hugo Black, Partner at Europa Capital said:
“Europa Generation is being launched to capitalise on the continuing shortfall of high quality purpose built student accommodation in top tier university towns and cities across the UK as illustrated by the seed portfolio we have secured.”

Alan Artus of Generation Estates added:
“We are delighted to have formed this partnership with Europa Capital to create a fund that will quickly become a leading investor in the PBSA sector in the UK. Our specialist skills and capability combined with Europa Capital’s undoubted expertise in fund management will provide investors with the opportunity to gain access to the robust long term returns available in the sector.”

Tim Turnbull, Partner at Europa Capital said:
“We are very excited to have established a joint venture with Generation Estates who have an unrivalled track record in this flourishing sector. Europa Generation will provide investors with access to individuals with a first-class track record in the investment, development and operational management of PBSA assets across the UK.”

For further information, please contact:
Gordon Simpson/ Elizabeth King, Finsbury: +44 20 7251 3801

About Europa Capital:
Europa Capital is an established real estate fund management group operating across Europe adding value through risk-based acquisition strategies and active asset management on behalf of its investors.

Since 1995, Europa Capital has collectively raised 9 real estate funds and committed to over 105 transactions totalling more than €9.5 billion across 19 European countries.

The Europa Funds benefit from Europa Capital’s established network of partners across Europe who co-invest in acquisitions made by the Europa Funds. These country and joint venture partner relationships in some cases extend back more than 20 years.

Europa Capital is a member of Rockefeller Group International, Inc. (“RGI”). RGI is a strategic investor alongside Management. Europa Capital Partners LLP and Europa Capital LLP are authorised and regulated by the Financial Conduct Authority.

Further information can be found at www.europacapital.com

About Generation Estates:

Generation Estates has been at the forefront of the purpose built student accommodation market for the last decade having been responsible for the creation, delivery and operation of two significant student accommodation platforms comprising over 4,500 beds and in excess of £1bn in value. Most recently it was responsible for the development and operation of Pure Student Living which was sold in 2015.