Greystar Takes PBSA Portfolio To 1,700 Beds With €105M Buy

Ireland’s student living sector has received a late-year boost after Greystar completed the acquisition of a 724-bed purpose-built student accommodation portfolio in Dublin and Galway from EQT Exeter for a sum believed to be around €105M.

Mayor Square in Dublin and Cúirt na Coiribe in Galway are both fully occupied and are adjacent to major universities, the National College of Ireland and the University of Galway, respectively.

The deal is Greystar’s second major investment in Ireland’s PBSA sector, following the acquisition of Point Campus in Dublin in December 2024, Ireland’s largest off-campus student scheme with almost 1,000 beds. The three properties will establish a platform of more than 1,700 student beds, making Greystar one of the largest PBSA operators in Ireland.

Planned investment includes optimisation works at Mayor Square to raise energy ratings and a multimillion-euro refurbishment programme at Cúirt na Coiribe to enhance amenities, upgrade lifts and modernise living spaces.

Greystar’s growing Irish portfolio also includes multifamily, student and development properties, including assets at Griffith Woods, Brickfield Square, Dublin Landings and Monkstown.

All the properties will operate under Greystar’s pan-European Canvas brand for student and young professional housing, which it launched in 2021. Canvas now includes 32 assets in seven countries, comprising more than 13,500 beds, including pipeline properties, the company said.

Earlier this month, the PBSA Council of Ireland warned the government that plans to prolong PBSA rent caps for a further three years risk stalling the delivery of beds and deterring long-term investment in the sector.

The move, which would prevent rents from resetting to market levels until at least 2029, comes as universities face record domestic and international enrolment and with a shortage of dedicated student housing.

“Our growth in Ireland reflects Greystar’s long-term strategy to build scale and quality in key European markets like Ireland,” Greystar Ireland Managing Director Claire Solon said in a statement. “The acquisition of Mayor Square and Cúirt na Coiribe represents a step change in our expansion, with the purchase of the latter marking our first investment outside Dublin.”

“Together with Point Campus, these assets establish a national platform for student housing in Ireland,” she added.