Greystar has acquired a 216-bed purpose-built student accommodation property on Church Street, Dublin, from Jersey-based investment firm Valeo Groupe Europe for an undisclosed sum.

The property is Greystar's third major investment in Ireland's PBSA sector following the acquisitions of Point Campus in Dublin in 2024 and the 724-bed Project Galaxy portfolio in Dublin and Galway in 2025, providing a combined 1,906 student beds.

The transaction was completed on behalf of Greystar Equity Partners Europe II, Greystar's recently closed pan-European value-add residential fund, which secured more than €2.7B of commitments for €6.8B of investment capacity for key European residential markets.

Since opening in 2018, the property has operated at or near full occupancy and will now operate under Canvas, Greystar's pan-European student accommodation brand across seven countries. The property includes a cinema, gym, study room, café, games room, outdoor space and barbecue area.

"Ireland continues to need more homes and accommodation, and we believe long-term investment has an important role to play in helping meet that demand. As Ireland's population and student numbers continue to grow, there is a clear need for more places for people to live and study,” Greystar Managing Director-Ireland Claire Solon said in a statement.

“We see significant opportunities across both student accommodation and multifamily housing and, with substantial capital available for investment, remain committed to growing our presence in Ireland and providing the homes and accommodation people need,” she added.

Greystar has also acquired almost 900 multifamily apartments across Dublin, including Griffith Woods, Brickfield Square and Monkstown.

GEPE II is more than 76% larger than its predecessor, Greystar Equity Partners Europe I, with €2.2B committed to the fund and an additional €550M committed to discretionary co-investment vehicles. The fund is being deployed across acquisition and development opportunities in European markets including Ireland, the UK, Spain, the Netherlands, Germany, Austria, Denmark and France, focused on purpose-designed multifamily and student accommodation.

The fund’s portfolio is expected to include what Greystar dubbed new-generation assets with high sustainability standards and attainable rents for the “missing middle” in an environment of increasing homeownership costs.

Prior to the latest Dublin acquisition, more than €910M of equity has been invested or committed through GEPE II across 28 investments totalling close to 13,000 homes and beds.

Greystar’s European platform spans eight countries, with more than €19B in assets being managed or operated, over 91,000 build-to-rent homes and PBSA beds.