Greystar Acquires Point Campus Student Development for Around €150 Million
Press Release
December 19, 2024
• Point Campus has almost 1,000 bed spaces and is fully occupied
• Purchase marks an important milestone for Greystar as first entry into the under-supplied student accommodation market in Ireland
• Greystar Ireland committed to investing in development to improve student experience longer term
Dublin, 20 December 2024 - Greystar has completed the purchase of Point Campus in Dublin, the largest off-campus student accommodation complex in the country, from global asset manager DWS Group for approximately €150m. The transaction marks Greystar's first venture into the student accommodation market in Ireland.
The fully occupied student accommodation centre is located in the Dublin Docklands and comprises of 966 bed spaces. Amenities include a gym, cinema, common room and roof terrace. The centre is adjacent to the Point Square shopping centre and 3Arena venue.
The accommodation will be managed by Canvas, the European student platform operated by Greystar with existing locations in the UK, France, Netherlands and Spain. The current team that manages the complex will transfer to Greystar.
Greystar has been an active participant in the living sector in Dublin with current schemes at Dublin Landings, Griffith Woods and the newly completed Brickfield Square in Dublin 12 which was recently launched and has units available to lease.
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."
The centre was originally developed by Michael O’Flynn and global fund manager BlackRock in 2016. When it was purchased by DWS, a subsidiary of Deutsche Bank, in 2020, market sources indicated the purchase price was in the region of €172m.
• Purchase marks an important milestone for Greystar as first entry into the under-supplied student accommodation market in Ireland
• Greystar Ireland committed to investing in development to improve student experience longer term
Dublin, 20 December 2024 - Greystar has completed the purchase of Point Campus in Dublin, the largest off-campus student accommodation complex in the country, from global asset manager DWS Group for approximately €150m. The transaction marks Greystar's first venture into the student accommodation market in Ireland.
The fully occupied student accommodation centre is located in the Dublin Docklands and comprises of 966 bed spaces. Amenities include a gym, cinema, common room and roof terrace. The centre is adjacent to the Point Square shopping centre and 3Arena venue.
The accommodation will be managed by Canvas, the European student platform operated by Greystar with existing locations in the UK, France, Netherlands and Spain. The current team that manages the complex will transfer to Greystar.
Greystar has been an active participant in the living sector in Dublin with current schemes at Dublin Landings, Griffith Woods and the newly completed Brickfield Square in Dublin 12 which was recently launched and has units available to lease.
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."
The centre was originally developed by Michael O’Flynn and global fund manager BlackRock in 2016. When it was purchased by DWS, a subsidiary of Deutsche Bank, in 2020, market sources indicated the purchase price was in the region of €172m.