Room-to-student ratios below 10% in most Continental European university cities. New supply constrained by planning, cost, and regulation.

International student mobility growing 5-7% annually. Domestic students increasingly priced out of private rental markets.

Majority operator-owned, limited institutional portfolios. Consolidation opportunity for a platform buyer.

Most assets have specific, identifiable gaps in revenue management, cost structure, or governance. NOI growth is realised through targeted interventions, in partnership with local operators.