Poland Develia expands into student housing

Develia’s stake in the project, which will result in the construction of several buildings providing a total of 6,000 beds, will amount to up to 10 pct of the capital commitment at the fund level. Develia will act as both investor and developer in the construction of three to five of these buildings. The fund's total equity investment may ultimately reach up to 150 million euros.

The student housing, to be developed in cooperation with Innova Capital and Solida Capital, will be built on properties from Develia's land bank or acquired by the developer during the partnership. In addition to its role as a fund partner, Develia will also manage the execution of the projects. The detailed terms of the partnership will be outlined by the partners in the investment and fund agreements, which are expected to be finalized within the next two quarters. The partners intend to begin construction of the first student housing projects as early as 2025.

This marks another step in Develia's growth within the PBSA (Purpose-Built Student Accommodation) segment. Earlier this year, the company entered into a joint venture agreement with the CEE Student Housing Fund, managed by I Asset Management – a firm specializing in investment management – and supported by Hanner. Under this agreement, a student residence with over 300 rooms will be developed in Wrocław.