Tribera and Aware Super Form €1b German student housing JV

Specialised residential manager Tribera and global institutional investor Aware Super have partnered to launch a dedicated property platform targeting PBSA in Germany.

Mathieu Elshout, Justin Hamer and James Bechely-Crundall

Backed by an investment capacity exceeding €1 bn, the platform will acquire, develop, and manage prime student housing assets across major German tier-one cities, including Berlin, Munich, Hamburg, Cologne, and Frankfurt.

The joint venture intends to deploy capital across the risk spectrum, leveraging a favourable entry basis to unlock long-term asset value.

Under the terms of the agreement, Tribera will serve as the exclusive provider of asset, property, and development management services for the platform.

This milestone follows the July 2025 acquisition of a majority stake in Tribera by Macquarie Asset Management.

By pairing institutional capital with specialist operational expertise, the partnership accelerates Tribera's broader corporate strategy to build out a premier, pan-European flexible living platform tailored to modern, community-centric student and professional housing.

Justin Hamer, CEO, Tribera, said: “The creation of this new partnership speaks to the confidence global investors have in the underlying fundamentals of the German student housing sector, as well as Tribera’s vision of transforming urban living. We are excited to partner with Aware Super in creating community-driven living spaces across key German cities that seamlessly integrate innovation, sustainability, and customer service.”

Mathieu Elshout, Super head of International and Senior Portfolio Manager for Property – UK  said: “The establishment of the partnership will enable us to diversify our property portfolio both geographically into continental Europe and into a new alternative sector, while partnering with experienced operators in European student housing. We believe it will deliver strong long-term, risk-adjusted returns for our 1.3 million members.”

James Bechely-Crundall, managing director, Macquarie Asset Management, said: “Our investment in Tribera is aligned to our strategy of establishing and incubating specialist real estate managers in sectors we believe are supported by significant structural tailwinds. We have high conviction that a scalable market opportunity exists in the European student housing sector and that Tribera is well positioned to partner institutional capital with best-in-class real estate opportunities at scale. We look forward to continuing to work with the business and its capital partners to support their growth ambitions.”