Europa Capital is an established European real estate fund manager and since 1995 has raised nine funds.
Europa Capital has been involved in the residential and student accommodation markets since 2012, and has acquired over 6,800 student and residential beds throughout in the UK on behalf of its funds, and advised on a further 27,000 student beds in the UK. Europa Capital have advised on the following transactions.
In November 2012, Europa Fund III acquired Grant and Grant West student Portfolio which comprised some 1,100 student beds across 11 university towns and cities across the UK. In June 2016, the final assets were sold generating investor returns of 34 per cent IRR and a 1.7x equity multiple.
During 2014/2015 Europa advised an international investor on the potential acquisitions of a number of UK PBSA portfolios including the Liberty Living (16,748 beds), the Pure Student Living (2,170 beds), Student Housing Company (5,866 beds) and Student Castle (2,153 beds).
In January 2016, Europa Fund IV acquired 27 assets from Lone Star which included 152 student rooms in Sheffield.
In September 2016, Europa Fund IV acquired Velocity Village, a mixed office and residential campus in central Sheffield. The residential accommodation, comprising 507 beds is predominantly let to students.
Europa Capital LLP will be the Fund’s AIFM (as defined in the AIFMD for such fund) and will have responsibility for the regulatory management and control of the business and affairs of each Fund. Europa Capital LLP is authorised and regulated by the Financial Conduct Authority (the “FCA”) in the United Kingdom.
Alan Artus and Gareth Davies founded Generation Estates in January 2004, since when they have developed and operated over 4,700 PBSA beds with a value in excess of £1 billion.
Generation Estates first significant PBSA project was undertaken in joint venture with Blackstone at 200 Pentonville Road in London. The development which became known as Nido Kings Cross re-defined student accommodation by proving that there was substantial demand particularly from international students for a high quality and well managed environment. Two other Nido projects followed resulting in the creation of a 2,521 bed operation platform that was operated until its sale for in excess of £400m, in 2012.
In March 2010 Generation Estates entered into a joint venture with the Carlyle Group to create a second high quality purpose built student accommodation platform in London. The business known as Pure Student Living created a geographically diverse portfolio of assets throughout central London capitalising on the opportunities created by the slowdown in residential and commercial markets as a result of the global financial crisis. The five developments that comprised Pure Student Living were completed between 2012 and 2015 resulting in an operational platform of 2,170 beds that were sold in March 2015 for £532 million.
Generation Estates has been well established in the PBSA market for many years with experience covering all aspects of the development process, creation of operational management platforms and on-going asset management of PBSA.
In January 2016 Generation Estates formalised a relationship with Nick Kinder, a UK wide student accommodation specialist by forming Generation Student LLP to undertake future ventures.