UXCO Group acquired two future UXCO Student residences in Toulouse and Saint-Etienne in France. The two future residences will include a total of 424 beds operated under the UXCO Student brand representing a total investment of c. €50m.
UXCO Student Toulouse is being co-developed by Oceanis Promotion and Novaxia Immo Club 6, providing 286 beds. Located near the city centre and served by numerous public transports, it will meet the needs of students in one of France’s main university cities.
UXCO Student Saint-Etienne is being developed by Immobiliere FAURE and will offer 138 beds. It will be immediately adjacent to the city centre and Saint-Etienne’s main university campuses.
In addition to modern private accommodations, each of the residences will offer common areas like sports rooms, cinema rooms, games rooms, and co-working areas.
Mael Aoustin, UXCO Group CEO and President of the Management Board explained: “After acquiring a future ECLA residence near Geneva in June, these two latest acquisitions bring our 2023 new investments to €140m, confirming our ambition to deploy our two brands – ECLA for premium XXL co-living for students and young professionals, UXCO Student for student residences. We’re delighted to be reinforcing our portfolio of assets in two particularly dynamic university cities and pursuing our ambitious strategic plan, enabling us to reinforce our leadership on the market.”
UXCO Group was advised by the notary office Noter and the legal firm Fairway on the financing. These two operations are financed by CACIB on the advice of the notary Cheuvreux and legal firm Dechert.
