Nuveen and Value One launch joint venture for student housing
Nuveen (formerly TH Real Estate) has set up a joint venture with the Austrian company Value One to invest €600mn in student apartments throughout Europe. Value One is co-investor and will manage project developments, while Nuveen will operate as lead investor and investment manager. Milestone, a Value One subsidiary, will operate the properties upon completion. “We want to have over 5,000 beds as soon as possible,” said CEO Andreas Köttl. The joint venture has so far secured an existing property in Vienna and two projects in Lisbon and Porto. Its focus is on new developments, with existing and repositioned properties being considered only in particular cases. Nuveen was advised by Linklaters, Cushman & Wakefield and CBRE; Value One was advised by Savills.
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