Greystar has announced the final close of Greystar Equity Partners Europe II (GEPE II) with over €2.7 billion in total programme commitments. This discretionary mandate provides Greystar with over €6.8 billion of investment capacity for acquisitions and development in key European cities. GEPE II is over 76% larger than its predecessor, Greystar Equity Partners Europe I (GEPE I), which had €2.2 billion committed to the fund, surpassing its €2.0 billion target.
Investment Focus
GEPE II will invest across the rental living sector, focusing on purpose-built student accommodation (PBSA) and Build to Rent/multifamily projects. The fund aims to include new-generation schemes with high sustainability standards and attainable rents, catering to the ‘missing middle’ amidst rising homeownership costs. Greystar’s commitment to sustainability is evident, with GEPE I’s portfolio receiving a five-star rating in the 2025 GRESB Real Estate Assessment.
Geographical Scope
The fund will target key European markets, including the UK, Spain, the Netherlands, Germany, Austria, Denmark, Ireland, and France. To date, over €910 million of equity has been invested or committed through GEPE II across 28 investments, totalling close to 13,000 homes and beds, with an additional €425 million in advanced pipeline opportunities.
Key Developments
GEPE II’s investments include the Boadilla Hills development in Madrid, comprising 458 homes; a 1,758-bed PBSA portfolio in Copenhagen; the Barking Wharf Build to Rent scheme in London with 595 homes; and a 1,690-bed PBSA portfolio across Ireland, including Point Campus in Dublin. Greystar’s European platform spans eight countries, managing over €19 billion in developments, with more than 91,000 Build to Rent homes and PBSA beds.