Ivanhoé Cambridge, Bouwinvest and Greystar launch Paris student and young professionals accommodation venture with €1 billion investment capacity

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Global real estate institutional investment companies Ivanhoé Cambridge Holdings UK Ltd (“Ivanhoé Cambridge”) and Bouwinvest Real Estate Investors (“Bouwinvest”) alongside Greystar Real Estate Partners LLC (“Greystar”), a global leader in the investment, development and management of high-quality rental housing properties, today announced a new ‘develop-to-core’ venture focused on funding purpose-built student accommodation (“PBSA”) 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. Paris is home to a high concentration of world-class higher education institutions, an exciting cultural scene and attractive job prospects, which continue to attract domestic and overseas students. The French capital is also characterised by an imbalance in the supply of high-quality student accommodation, signaling significant opportunities for the new venture. false false false About Ivanhoé Cambridge 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. It does so responsibly, with a view to generate long-term performance. Ivanhoé Cambridge is committed to creating living spaces that foster the well-being of people and communities, while reducing its environmental footprint. Ivanhoé Cambridge invests internationally alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the Company holds interests in more than 1,000 buildings, primarily in the industrial and logistics, office, residential and retail sectors. Ivanhoé Cambridge held C$64 billion in real estate assets as at December 31, 2019 and is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), one of Canada’s leading institutional fund managers. For more information: ivanhoecambridge.com. About Bouwinvest Bouwinvest Real Estate Investors B.V. specialises in managing real estate portfolios for institutional investors (pension funds and insurers). We invest for the long term, in a responsible manner, with respect for the world around us. Bouwinvest strives to achieve sustainable returns on behalf of its pension fund clients. We manage €12.9 billion (YE 2019) in assets within five Dutch property sector funds and three international real estate investment mandates in Europe, North America and Asia-Pacific. For more information, go www.bouwinvest.com About Greystar Greystar is a leading, fully integrated real estate company offering expertise in investment management, development, and management of rental housing properties globally. Headquartered in Charleston, South Carolina, Greystar manages and operates over an estimated $200 billion+ of real estate in nearly 200 markets globally including offices throughout the United States, United Kingdom, Europe, Latin America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, managing approximately 660,000 units/beds, and has a robust institutional investment management platform with approximately $35 billion of assets under management, including over $15 billion of assets under development. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.greystar.com