Ardian and Rockfield Acquire Minervahaven, A Landmark Deal in Dutch Student Housing
Deal News | May 01, 2025 | Ardian
Ardian, a globally leading private investment house and Rockfield Real Estate, a vertically integrated living platform, have secured a significant milestone in the European Purpose-Built Student Accommodation (PBSA) sector by acquiring the 596-bed Minervahaven student housing building in Amsterdam's Houthavens district. The deal, which stands as one of the largest single asset PBSA transactions recorded in the Netherlands in terms of gross asset value, marks the fourth investment by the duo's dedicated pan-European strategy since its inception in October. This marks a total capital deployment of over 300 million euros within six months. The property purchased from Rinkelberg Capital and developed by Student Experience since 2020, stands out with its BREEAM Excellent-in-use certification and is recognized as 'The Most Sustainable PBSA Asset in Europe' by The Class Foundation. Assisted by various advisors like Savills, MC2, Van Doorne, and Linklaters, Ardian and Rockfield aim to expand their diversified portfolio in high-demand European markets, particularly focusing on sustainable, high-quality assets. This transaction underlines their ambition to scale up in the Northern European student housing sector.
Sectors
- Real Estate
- Private Equity
- Education
Geography
- Netherlands – The article is centrally focused on a large student housing transaction taking place in Amsterdam, Netherlands.
- Europe – Ardian and Rockfield's strategy targets European markets, highlighting the broader geographical scope relevant to the transaction.
Industry
- Real Estate – This industry is relevant as the article discusses the acquisition of a student housing building, a type of real estate investment.
- Private Equity – Relevant because Ardian, a private equity firm, is involved in the acquisition of the student housing asset.
- Education – Relevant due to the focus on student housing, which supports the educational sector by providing accommodation solutions for students.
Financials
- 300 million euros – Total capital deployed by Ardian and Rockfield in the last six months for their PBSA strategy.
- 500 million euros – Initial equity commitment by CBRE Investment Managements Indirect Strategies for the PBSA strategy.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ardian | Acquirer | Company | A world-leading private investment house involved in the acquisition of the Minervahaven student housing building. |
| Rockfield Real Estate | Acquirer | Company | A vertically integrated living platform specializing in European residential real estate, partnered with Ardian in the acquisition. |
| Minervahaven | Target | Company | A 596-bed student housing building in Amsterdam involved in the transaction. |
| Rinkelberg Capital | Vendor/Seller | Company | The family office from which Minervahaven was purchased. |
| Student Experience | Operator | Company | Responsible for developing and managing the Minervahaven property since 2020. |
| Savills | Commercial Advisor | Company | Served as commercial advisor to Ardian and Rockfield during the acquisition. |
| Van Doorne | Legal Advisor | Company | Provided legal advisory services to Ardian and Rockfield. |
| Linklaters | Legal Advisor | Company | Assisted Ardian and Rockfield with legal advice in the transaction. |
| PwC | Tax Advisor | Company | Served as tax advisor to Ardian and Rockfield for the transaction. |
| Van Lanschot Kempen | Financial Advisor | Company | Assisted Rinkelberg Capital and Student Experience as financial advisors. |
| Loyens & Loeff | Legal Advisor | Company | Provided legal advisory services to Rinkelberg Capital and Student Experience. |