Global real estate investment management firm has added Steinan Studentby to its Norwegian student housing platform.
Heitman has invested an undisclosed sum to buy the business that owns 218 beds in 102 apartments across two buildings.
The latest deal, which expands Heitman鈥檚 Norwegian student housing footprint, follows the purchase of student housing platform Bo Coliving in March 2023. Bo Coliving had over 1,400 beds in 52 properties across 13 Norwegian cities.
Heitman said Steinan Studentby鈥檚 properties will become part of the Bo Coliving business, once the latest acquisition is finalised.
Caleb Mercer, managing director of European real estate investment, said: 鈥淚n our view, Europe continues to be highly attractive for student housing investments. The secular demand drivers at play in the sector, coupled with our depth of experience, we believe provides a solid foundation for growth in our portfolio.鈥�
鈥淲hen we acquired Bo Coliving in March, our focus was on developing a high-quality student housing platform in a highly fragmented market and, in doing so, meet the demands of students and universities. Today鈥檚 announcement is the next stage in that journey. More to come as we look ahead into the next stage of this cycle.鈥�
Johan Rasting, CEO of Bo Coliving, added: 鈥淥ur relationship with Heitman is going from strength to strength and since the acquisition in March we鈥檝e benefitted from their expertise and support as we continue with our shared mission to provide students in Norway with high-quality homes. By adding these two properties to our platform, we move towards realising our ambition to work 10,000 student beds in Norway by 2026.鈥�
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