Rockfield and Ardian secure €550 million in green financing for pan-European student accommodation strategy

Rockfield Real Estate, a vertically integrated European residential platform, and Ardian, a leading global private investment company, have jointly successfully completed €550 million in green financing to support their pan-European strategy for Purpose-Built Student Accommodation (PBSA).

This financing enables the platform to continue growing through both refinancing existing assets and acquiring new projects in core markets. The transaction underscores market confidence in the strategy and strengthens Rockfield and Ardian’s sustainable positioning within the rapidly growing PBSA market.

The financing structure consists of approximately €450 million in pan-European facilities provided by ING (also Agent and Global Coordinator), Société Générale CIB and HSBC Continental Europe as Mandated Lead Arrangers. In addition, more than €100 million in additional financing has been provided to support existing investments in Italy.

The financing is closely aligned with the platform’s ESG objectives. All assets within the PBSA portfolio are focused on or have already achieved leading sustainability certifications, such as BREEAM and LEED. Climate risk analyses, sustainable energy generation and well-being-oriented design principles are structurally integrated into every project. Social impact is also actively managed, with a focus on affordability and accessibility.

“Securing this green financing is an important milestone for our European PBSA strategy. It enables us to further optimise our existing portfolio and respond more quickly to new opportunities in cities with structural demand. The flexibility of the facility fits perfectly with the scalable design of the platform.”

– Florijn Diepstraten – CFRO, Rockfield Real Estate

Since its launch in 2024, Rockfield and Ardian have jointly completed six acquisitions in the Netherlands, Spain, Italy and Germany, representing a portfolio of more than 6,000 beds. In June 2025, CBRE Investment Management increased its initial commitment from €500 million to €800 million. The total investment capacity now stands at nearly €1.3 billion.

The strategy focuses on Core+ assets in markets with a structural shortage of student housing, with a strong emphasis on sustainability, scalability and social added value.

“This successful financing confirms both the strength of our partnership with Rockfield and the growing importance of sustainable student housing. Thanks to this solution, we can invest even more decisively in key European cities.”

– Antoine Leboulanger – Co-Head of Capital Markets, Ardian