Greystar acquires French PBSA portfolio from Catella

Rental housing player Greystar has purchased four student housing properties in France from a German fund managed by Catella Investment Management. 

Catella PBSA assets in France

These properties, located in Evry, Bordeaux, Toulouse, and Labège, collectively offer 1,091 student beds.
Greystar is already very familiar with these residences, having managed them for Catella for over 13 years. This prior experience ensures a smooth transition and allows Greystar to immediately focus on improving operational performance.
This acquisition is a strategic move for Greystar, bolstering its presence in important university cities where student housing demand currently outstrips supply. It follows other recent investments in French student housing and aligns with Greystar's broader goal of expanding its student and young professional housing portfolio in France, leveraging its strong European network.
All the newly acquired residences will operate under Greystar's pan-European brand, Canvas, which caters to students and young professionals. Canvas, known for its operational excellence and resident experience, is rapidly growing across Europe, now encompassing 30 properties with over 12,700 beds (including future projects). These four new properties will join existing Canvas locations in France, Canvas La Défense and Canvas Paris Ivry.
Thomas Charvet, managing director - France, Greystar, said: “France remains one of Europe’s most dynamic student housing markets, underpinned by persistent demand and constrained supply. Over the past two years, we’ve established a strong foothold with nearly 2,800 beds acquired and a rapidly growing Canvas brand that’s setting new standards for quality and resident experience.”
Michael Keune, managing director of Catella Investment Management, added: “We are delighted that the properties will remain in familiar and capable hands now that we have completed our investment cycle with these assets. With Greystar, our previous local partner is applying its own branding to the properties and continuing to grow in France. It is clear to us and to the market that demand for this product remains strong, and we are happy to invest in student accommodation, furthermore, in the future.”
Greystar plans to undertake a significant investment program to upgrade the newly acquired student housing properties. This will involve modernising common areas, adding new shared facilities like coworking spaces, fitness centres, and leisure areas, and improving outdoor spaces. All bedrooms will also receive new furniture.