Ardian, a world-leading private investment firm, and Rockfield, a vertically integrated living platform, today announce the successful closing of a sizable green financing package of €550 million for their Purpose-Built Student Accommodation (PBSA) strategy.

The latest financing provides additional capital for the platform to invest in PBSA across Europe and is structured to support further growth alongside the strategy. It demonstrates continued market confidence in the platform and provides additional resources to scale the strategy further by refinancing existing seed assets and securing funding for future acquisitions across the portfolio. The package combines c.€450 million of pan-European facilities, signed with ING (also acting as Agent and Global Coordinator), Société Générale CIB and HSBC Continental Europe as Mandated Lead Arrangers, together with additional financing of more than €100 million supporting existing investments in Italy. This green financing also underscores Ardian and Rockfield’s commitment to embedding sustainability at the heart of the PBSA strategy.

With a Core+ profile, the platform not only seeks to deliver long-term, risk-adjusted returns, but also to reduce greenhouse gas emissions in line with the Paris Agreement. So far, all assets are targeting or have achieved leading ESG certifications such as BREEAM and LEED, with climate risk assessments, renewable energy procurement, and wellbeing-focused design integrated into each project. Beyond environmental measures, the platform actively monitors socioeconomic impact, including affordability and accessibility.

“The strong support from our financing partners highlights both the momentum of our partnership with Rockfield and the growing relevance of sustainable purpose-built student housing. We’re proud to be at the forefront of this important market and look forward to continuing to develop our PBSA strategy with this scalable and innovative financing solution provided by leading banks within the real estate industry. With this new financing, we have greater flexibility of execution and the ability to deploy even more capital in PBSA across Europe.” Antoine Leboulanger, Co-Head of Capital Markets and Managing Director, Ardian

“Securing this financing package is a significant milestone for our European PBSA strategy. It not only allows us to further optimize our existing portfolio, but also creates the capacity to capture new opportunities and accelerate growth in markets with strong structural demand. The facility is designed to grow with the venture, supporting both standing assets and new-build projects, and strengthening our ability to meet the rising demand for student accommodation across Europe.” Florijn Diepstraten, CFRO Rockfield Real Estate

Since its launch in 2024, the pan-European PBSA strategy has built momentum, completing eight acquisitions across the Netherlands, Spain, Italy and Germany and establishing a diversified portfolio of more than 6,000 beds. Backed by significant support from CBRE Investment Management – which initially committed €500 million and increased this by €300 million in June 2025 – the platform now benefits from nearly €1.3 billion in investment capacity. These early developments reflect the strength of the strategy’s disciplined investment criteria and its ability to execute transactions in a timely and consistent manner.