Grosvenor Group’s indirect investment team has partnered with VBI Real Estate (VBI) to provide some of the first dedicated student housing in Brazil.
The country has the fourth-largest undergraduate population in the world, with 30 percent studying outside of their hometown, but with very limited dedicated accommodation available.
“The student housing sector has become an institutionally recognized asset class globally and this is an exciting opportunity to invest in a structurally under-supplied marketplace,” said Andy Yates, investment director, indirect investment at Grosvenor Group.
Grosvenor Group’s joint venture with VBI will create student accommodation across the south and southeast of Brazil, in cities including Rio de Janeiro and Sao Paulo. The strategy is to acquire existing buildings located near to university campuses and retrofit them into student housing facilities. These facilities will be operated by ULiving, a fully focused student acco
