Corestate Capital Holding S.A. has agreed a new partnership with Bain Capital Credit.
The agreement establishes a financing partnership in Poland within the micro-living sector, specifically to co-invest in properties and convert them into student housing. The partnership has the initial capability to develop up to €500 million ($557 million). The agreement also includes asset and property management contracts.
Fabio Longo, a managing director and head of Bain Capital Credit's European non-performing loan and real estate business, said, “We are pleased to have partnered with Corestate on our first student accommodation venture in Poland, where there is significant potential to create value and add to our substantial European real estate portfolio. The undersupply of quality student housing alongside the growth in international student numbers and strong investor appetite for such assets creates highly favorable investment conditions.”
The first project dev
