The strategy’s first investment is a fully consented 353-bed development on the Greenwich Peninsula, comprising an 18-storey tower to be delivered in partnership with RG Real Estate (“RGRE”). Scheduled for completion ahead of the 2029/2030 academic year, the scheme will be highly amenitised and target leading BREEAM and building performance certifications.

Strategic context

The acquisition emphasises Cain’s commitment to the PBSA sector and to building a prime London portfolio. The transaction follows the firm’s entry into Italy last week through a partnership with Global Student Accommodation (“GSA”), as Cain continues to scale its platform across Europe’s leading university markets, with ambitions to grow the platform to 10,000 beds over the next five years.

Cain’s PBSA platform represents approximately €1.2 billion in gross development value spanning approximately 4,000 beds across key university markets including Bristol, Leeds, Manchester and Liverpool, alongside a recently announced joint venture with GSA in Rome.

Cain has also deployed more than £1 billion of construction financing into the PBSA sector across the UK and Spain, prior to the divestment of its credit business to Eldridge Capital Management.