Greystar has acquired Point Campus student housing development in Dublin for around €150m, marking its first venture into the sector in Ireland.
The largest off-campus student accommodation complex in the country was bought from global asset manager DWS Group.
The fully occupied student accommodation centre is located in the Dublin Docklands and comprises 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.
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 internationa 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 was originally developed by property developer 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.
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