Greystar acquires Cork student apartment development

Property firm now operates 2,200 student beds in Ireland

Since it was relaunched in 2019, Copley Court has operated at or near full occupancy.

Property investment and development firm Greystar has acquired the 265-bed Copley Court student apartment complex in Cork.

They acquired the purpose-built student accommodation (PBSA) property from Elkstone Real Estate.

The deal brings Greystar’s Irish PBSA portfolio to close to 2,200 beds.

Copley Court, located close to City Hall, is less than 3km from University College Cork and a host of other third-level colleges including St John's and Cork College of Commerce.

As well as being fully let during the academic year, it benefits from a strong summer letting programme.

Cork remains one of only a small number of Irish counties to have recorded growth in PBSA bed stock over the past year and is one of the country's largest markets by student numbers, alongside Dublin and Galway.

The acquisition adds to UK-headquartered Greystar's growing Irish portfolio, which spans build-to-rent and PBSA assets across Dublin, Galway and Cork, as the business continues to scale its presence in the Irish residential and student living sectors.

Copley Court is Greystar's fourth major investment in Ireland's PBSA sector following the acquisition of Point Campus in Dublin in 2024 and the 724-bed Project Galaxy portfolio in Dublin and Galway last year. Together, the five properties establish a nationwide portfolio of 2,171 student beds, positioning Greystar as one of the largest PBSA operators in Ireland.

The transaction was completed on behalf of Greystar Equity Partners Europe II (GEPE II), Greystar's recently closed pan-European value-add residential fund. The fund secured more than €2.7bn of commitments and provides over €6.8bn of investment capacity to support acquisitions and development across key European residential markets, including Ireland.

Claire Solon, Managing Director – Ireland, Greystar, said the latest acquisition forms part of their continued investment in the Irish PBSA and BTR sectors, where structural undersupply against growing demand continues to underpin institutional investment.

"Copley Court is a strong addition to our Irish student accommodation platform, and a clear signal of the capital we now have available to deploy following the final close of GEPE II," she said.

"Cork continues to see rising demand for high-quality, well-managed student housing, and this acquisition reflects our confidence in the city's long-term fundamentals.” 

“We look forward to working with the local on-site team to continue delivering a high standard of accommodation and service for students in Cork, while building on the asset's established summer letting programme."

Since it was relaunched in 2019, Copley Court has operated at or near full occupancy. It will now operate under Canvas Student, Greystar's pan-European student accommodation brand, joining a portfolio that spans seven countries across Europe.