Cain Expands Pan-European PBSA Platform with London Entry
Firm launches dedicated strategy targeting 2,000 beds across the UK capital
16 July, London – Cain, the global real estate investment manager, has launched a dedicated London purpose-built student accommodation (“PBSA”) strategy targeting the delivery of 2,000 beds across the capital, marking the latest expansion of its growing pan-European living platform.
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.
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.
Located within the Greenwich Peninsula, the site forms part of one of London’s largest mixed-use regeneration districts, which will deliver more than 17,000 homes alongside retail, office, hotel, leisure and cultural space. Home to The O2, the area offers strong connectivity to Canary Wharf, the City of London and London City Airport, as well as access to London’s five top 100 global universities.
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.
Cain has partnered with RGRE as developer for the scheme. Established in 2023 as the development arm of RG Group, RGRE specialises in the delivery of high-quality residential and living sector assets across the UK.
Working closely with Cain, RGRE has refined the project design to enhance the student experience, strengthen regulatory compliance, and optimise value through the creation of additional rooms. The appointment reflects RGRE’s growing presence within the living sector, where the business is currently managing a development pipeline of approximately £500 million.
Arvi Luoma, Chief Investment Officer at Cain, said: “London is the world’s largest student city and continues to attract both domestic and international students seeking world-class education and long-term career opportunities. We have an established PBSA platform with strong development partnerships across the UK having already delivered assets across a number of major university cities, and continue to see a significant opportunity to scale the platform through high-quality product in some of Europe’s most dynamic university markets.”
Oliver Cummings, Managing Director, Head of PBSA at Cain, said: “Greenwich is a compelling starting point for our London ambitions, combining excellent connectivity to London’s leading global universities with proximity to Canary Wharf and the extensive amenities around the O2 Arena. London continues to face a severe shortage of high-quality student accommodation and we believe well-located, highly amenitised schemes such as this will continue to attract long-term demand. We’re pleased to be working with a new development partner in RGRE, alongside RG Group as General Contractor on the scheme. We are already collaborating with RG Group on the construction of two projects in Leeds and Bristol and look forward to building on the relationship through this exciting new development.”
Nick Hayes, Managing Director, RGRE said “It has been a pleasure working with Cain and their professional team to get this deal over the line. We specialise in transforming complex projects into secure, predictable investments and this project showcased the very best of what we offer. Our focus is on building long-term, strategic partnerships founded on trust, expertise and shared ambition. We look forward to strengthening our relationship with Cain and working together to deliver further opportunities in the future.”
Important Notice: This press release is issued for informational purposes only and does not constitute, and should not be construed as, an offer to sell or a solicitation of an offer to buy any securities or interests in any fund or investment vehicle managed or advised by Cain International Advisers Limited or any of its affiliates.