UXCO Group, is pursuing its strong growth with a fifth acquisition in Forward Funding development in France in 2023: the future UXCO Student residence in Chambery, France. This latest operation by the company, which is majority-owned by Brookfield, enables it to end the year on a high with more than €200m invested in 2023 for 5 new acquisitions.
Situated close to Chambéry’s historic centre, the future UXCO Student residence will be part of the brand-new La Cassine district designed by the Chambery-Grand Lac Economie economic development agency. Focused on the transformation of a former industrial plant, this project is aimed at offering a completely redesigned gateway to the city, making it more attractive, dynamic and pleasant, with a mix of offices, accommodations, and parks. Close to the main train station with ideal public transport links to the city’s university buildings, the new residence will help respond to the region’s major housing challenges, offering students and young professionals quality, affordable and safe accommodation to suit their lifestyles.
The future UXCO Student residence in Chambery will reinforce the group’s portfolio of residences in the Auvergne-Rhône-Alpes region, by offering 124 beds over a 2,647m2 surface area on 7 floors. In addition to private residences ranging from studios to four-bedroom apartments, residents will also benefit from more than 500m2 of communal areas and high-end services, in line with the best student accommodation standards: a gym, cinema, games room, co-working areas, terraces and a rooftop patio. This residence will also deliver excellent energy performance thanks to a geothermal heat pump and electricity generated by photovoltaic panels.
UXCO Group is mobilizing its expertise in investment, asset management and student residence management, partnering with Edouard Denis Promotion (Nexity Group) to carry out the project.
“After the opening of our new UXCO Student residence in Annemasse more than 15 years ago and the launch in November of construction on the future ECLA Archamps-Genève co-living residence developed by Océanis Promotion, the group’s development arm, this latest operation reinforces our offering in Savoy, helping to make the region more dynamic and meet student housing needs in the area. This project also confirms our ambition of deploying our two brands – ECLA for premium XXL co-living, and UXCO Student for purpose-built student accommodation across France,” explained Mael Aoustin, Group CEO and President of the UXCO Group Management Board. “We’re proud to be developing our portfolio of assets in this region and pursuing our ambitious growth plan, reinforcing our position as market leader and preferred partner of local authorities.”
For this operation, UXCO Group was advised by a notary office Noter and legal firm Fairway on the legal aspects of the financing. The operation is financed by CACIB on the advice of notary Cheuvreux and legal firm Dechert.
Image provided by Proches.
