KKR has sold two major student-housing developments in the Netherlands for €190 million ($233 million).
Xior Student Housing NV acquired the Zernike Tower, 700 units in Groningen, and Greystar Real Estate Partners acquired 680 student accommodation units in Utrecht. Earlier this year in May, in a separate transaction, KKR sold the residential buildings in Utrecht, comprising 173 units, to GIC and Orange Capital Partners.
KKR acquired the sites in 2018 to help meet the growing demand for high-quality affordable accommodation for students and young professionals across Europe. Under KKR’s ownership, the sites have been delivered to meet the rapidly growing demand for student accommodation in two of the largest student cities in the Netherlands.
The 23-story Zernike Tower in Groningen recently opened in August this year and achieved full occupancy shortly thereafter, offering 698 fully furnished independent studios. It is strategically located, close to the cit
