The Chicago-based real estate investment company has also made further commitments of £200m a year in Spain, in addition to £150m a year in both Portugal and Italy.
CA Ventures has in-house development, asset management and property management capabilities, and delivered approximately 50,000 beds in North America in the PBSA sector.
Three PBSA development schemes — which have been backed by PGIM Real Estate and Investec — have already been announced.
- DFT roundtable: Reliable lenders, changing student demands and planning benefits in the PBSA market
- L&G commits £4bn to Oxford University for new housing and education developments
- Investec commits over £500m of PBSA funding
The Glasgow, Edinburgh and Sheffield facilities are expected to be ready for the 2021/2022 academic year and will provide a total of 888 beds.
CA Ventures also expects to provide 257 beds in Dublin, Ireland, and 251 beds in Belfast, with further schemes in Bristol, York and Edinburgh to be delivered for the 2021/2022 academic year.
Carlo Matta, head of Europe at CA Ventures (pictured above), said: “We are very pleased to announce the start of our first development schemes in Europe.
“Outside of the US, the UK is the largest destination for international students, but remains severely undersupplied with purpose-built student accommodations.
“We see a significant opportunity in the UK, Ireland and continental Europe to deliver a modern, high-quality student living experience.”