J.P. Morgan Asset Management (JPMAM) is expanding its presence in the European student and flexible living sectors through a German joint venture with iLive Group, which intends to develop a €1.5bn student accommodation portfolio. The venture, which intends to develop a student accommodation portfolio across major German cities, has already secured initial sites in Frankfurt and Berlin, comprising approximately 1,000 beds.
Michael Ramm, head and CIO of real estate Europe at JPMAM, said: “This partnership unlocks an exciting opportunity to deliver real value for our clients, partners and communities – building on an already successful student-living concept and helping to close Germany’s major gap in high-quality, modern student housing.”
Amos Andreas Engelhardt, CEO and founder of i Live Group GmbH , said: “We are proud to partner with JPMAM to further expand our high-quality student housing across Germany. Demand for modern, service-oriented living concepts continues to outpace supply in key university cities. This partnership represents an important milestone in scaling our platform and further strengthening our position as a leading provider in the German managed living sector.”
The latest partnership expands the European managed living platform of JPMAM, which has recently completed transactions in France and Spain.
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