In one of the largest Purpose-Built Student Accommodation (PBSA) transactions in the Netherlands to date, Nido Living has sold its 1,209-bed Dutch portfolio to Ardian and Rockfield, as it accelerates its continental expansion strategy targeting Germany and Italy. The sale follows Nido's recent agreement to acquire Livensa Living from Brookfield in a €1.2bn deal, positioning the platform for aggressive growth in Europe's most competitive student housing markets.
The Dutch portfolio includes two high-performing assets: Nido Randwyck (‘Muse’) in Maastricht and More in Leiden. Together they comprise over 24,000 m² of GFA across 1,209 fully furnished studios with modern amenities tailored to the evolving expectations of international students. The sale will allow Nido to redirect capital into high-demand cities in Germany and Italy, where local teams have already been established.
“This opportunistic sale underpins Nido’s strategy to grow in continental Europe as we will redeploy capital into Germany and Italy in the very near future alongside completing on our acquisition of Livensa and mobilising those ~9,000 beds,” said Carlo Matta, CEO of Nido Living. “Our assets in The Netherlands have been designed, developed and managed with value creation and strong income in mind… We were able to exit very strongly, which will support our activities going forward.”
The sale aligns with Nido’s strategy to reach 25,000 beds under management by 2031, with nearly half of that goal realised once the Livensa transaction completes. The firm, backed by CPP Investments, is leveraging scale to drive operational excellence and cost efficiency in its platform model, appealing to investors who favour vertically integrated PBSA operators with pan-European reach.
For developers and capital partners, the transaction signals continued institutional appetite for high-quality, operational PBSA across core university cities in Europe. Ardian and Rockfield’s acquisition marks their second major PBSA deal in the Netherlands this year, having previously secured the 600-unit Minerva in Amsterdam. Their strategy includes €1bn of acquisitions across Europe, underscoring growing conviction in student housing’s resilient income and defensive characteristics.
The timing of this exit reflects a broader trend: institutional investors are increasingly viewing operational data, occupancy trends and student wellbeing metrics as key value indicators. Nido’s ability to optimise NOI while maintaining resident satisfaction provides a strong case study in how thoughtful asset design and community-building can materially enhance exit outcomes.
People mentioned
Carlo Matta – CEO, Nido Living
Companies mentioned
Nido Living – Seller, operator and developer of PBSA across Europe
Ardian – Buyer, private investment house
Rockfield – Buyer, Dutch investment and development firm
Livensa Living – Spanish and Portuguese PBSA portfolio
Brookfield Asset Management – Former owner of Livensa
CPP Investments – Owner of Nido Living
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