Norges Bank Invests €240 Million in European Real Estate Venture
Deal News | Mar 20, 2025 | Norges Bank Investment Management (NBIM)
Norges Bank Investment Management (NBIM) has entered into an agreement to acquire a 40% stake in a European student housing platform for €240 million. The platform, valued at a gross value of €1.3 billion, encompasses 12,200 student housing and co-living beds spread over 42 assets. The remaining 60% will be retained by European Student Accommodation Venture S.C.A, a fund managed by AXA IM Alts. Completion of the deal is anticipated in the first quarter of 2025, pending seller acceptance after a consultation with a works council. AXA IM Alts will continue to manage the assets within the portfolio.
Sectors
- Real Estate
- Investment Management
Geography
- Europe – The real estate transaction and the student housing assets are located in Europe.
Industry
- Real Estate – The investment relates to student housing, a niche segment within the real estate industry.
- Investment Management – Norges Bank Investment Management operates as a fund manager, focusing on strategic investments in assets including real estate.
Financials
- 240 million euros – The price paid by Norges Bank for a 40% ownership interest in the real estate platform.
- 1.3 billion euros – Gross valuation of the student housing platform.
- 600 million euros – Debt encumbering the student housing portfolio.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Norges Bank Investment Management | Bidding Company | Company | The fund management division of Norges Bank, focusing on investments in real estate and renewable energy infrastructure. |
| AXA IM Alts | Selling Company | Company | AXA IM Alts manages the European Student Accommodation Venture and continues to provide asset management services in the joint venture. |
| European Student Accommodation Venture S.C.A | Other Company | Company | The fund controlled by AXA IM Alts, will hold a 60% stake in the joint venture with Norges Bank. |