Ardian & Rockfield secure €550m green loan for PBSA

Private investor Ardian and European residential platform Rockfield have secured €550 mln in green financing to back their strategy for PBSA across Europe.

Rockfield Ardian PBSA

This new funding provides more capital for the platform to invest in PBSA throughout Europe and is designed to support further expansion. It shows ongoing market confidence in the platform and offers additional resources to grow the strategy by refinancing current initial assets and securing funds for future acquisitions. 
The financing package includes roughly €450 mln in pan-European facilities, signed with ING (also serving as Agent and Global Coordinator), Société Générale CIB, and HSBC Continental Europe as Mandated Lead Arrangers. An additional €100 mln-plus supports existing investments in Italy. 
The platform, with its Core+ profile, aims to achieve long-term, risk-adjusted returns while also reducing greenhouse gas emissions in line with the Paris Agreement. To date, all assets are either targeting or have already achieved top ESG certifications like BREEAM and LEED, with climate risk assessments, renewable energy procurement, and well-being-focused design integrated into every project. Beyond environmental efforts, the platform actively monitors socioeconomic impacts, including affordability and accessibility.
Antoine Leboulanger, co-head of Capital Markets and Managing Director, Ardian, said: “The strong support from our financing partners highlights both the momentum of our partnership with Rockfield and the growing relevance of sustainable purpose-built student housing. We’re proud to be at the forefront of this important market and look forward to continuing to develop our PBSA strategy with this scalable and innovative financing solution provided by leading banks within the real estate industry. With this new financing, we have greater flexibility of execution and the ability to deploy even more capital in PBSA across Europe.” 
Florijn Diepstraten, CFRO Rockfield Real Estate, added: “Securing this financing package is a significant milestone for our European PBSA strategy. It not only allows us to further optimize our existing portfolio, but also creates the capacity to capture new opportunities and accelerate growth in markets with strong structural demand. The facility is designed to grow with the venture, supporting both standing assets and new-build projects, and strengthening our ability to meet the rising demand for student accommodation across Europe.” 
Since its inception in 2024, the pan-European PBSA strategy has gained traction, acquiring eight properties in the Netherlands, Spain, Italy, and Germany, creating a diverse portfolio of over 6,000 beds. Initially supported by a €500 mln commitment from CBRE IM, which was increased by €300 mln in June 2025, the platform now boasts nearly €1.3 bn in investment capacity.