Heitman has expanded its Norwegian student housing platform with the purchase of Steinan Studentby in Trondheim, adding 218 beds in 102 apartments spread across two buildings to Heitman’s portfolio. Financial terms were not disclosed.
The acquisition follows the purchase of student housing platform Bo Coliving in March. At the time of the deal, Bo Coliving had more than 1,400 beds in 52 properties across 13 Norwegian cities. Following this transaction, the Steinan Studentby properties will become part of the Bo Coliving business. Heitman’s growth strategy for the Bo Coliving platform is to improve the quality of student accommodation to an institutional standard.
“When we acquired Bo Coliving in March, our focus was on developing a high-quality student housing platform in a highly fragmented market and, in doing so, meet the demands of students and universities,” said Caleb Mercer, managing director, European real estate investment. “Today’s announcement is