Greystar has completed the purchase of the Point Campus student accommodation complex in Dublin from global asset manager DWS Group for circa €150m.
The transaction is Greystar’s first venture into the student accommodation market in Ireland.
The fully occupied scheme is located in the Dublin Docklands and provides 966 bed spaces. The on-site amenity provision includes a gym, cinema, common room and roof terrace.
The accommodation will be managed by Greystar’s European student platform Canvas and the current team that manages the campus will transfer to Greystar.
Claire Solon, managing director of Greystar Ireland, said: “We are really excited to enter the student accommodation market here in Ireland. We believe the business is well positioned to respond to the undersupply of high quality and professionally managed accommodation, driven by strong ongoing demand from Irish and international students.
“Greystar is an industry leader internationally in the student accommodation sector and we will be drawing on the experience and expertise that the company has built up to ensure the best residential experience possible for students at Point Campus.”
“The centre already has a well-deserved reputation for attractive facilities and excellent services, and we are committed to further improving the offering to appeal to a wider and more diverse student base. The North Docks area is going to be focus of significant development over the next decade and these plans, which include a new cycling greenway and new transport routes, will be of real benefit to Point Campus and the students living there.”
