Greystar Introduces Five Purpose-Built Student Accommodation Assets in Brazil

Greystar Real Estate Partners has entered the Brazilian student housing market. Greystar is a major global company that invests in, develops, and manages real estate, including rental housing, logistics, and life sciences properties. The company just announced an agreement with Share Student Living ("Share") and CIX Capital, which specialises in managing assets in finance, capital markets, and real estate.

Through this collaboration, Greystar will oversee its first student accommodation properties in Brazil. The properties will operate under the brand name 'Share by Greystar.'  Share was founded in 2016 by local developer Mitre and CIX Capital. The company's goal is to develop purpose-built student housing through new construction projects. These housing properties aim to offer top accommodations in central urban areas near major universities, both public and private.

Cristiano Viola is the Director of Operations for Greystar Brazil. He expressed excitement about expanding Greystar's rental business to include student housing in Brazil. Viola noted Greystar's expertise in the Brazilian residential rental market. The company manages over 850,000 rental units and beds globally. He said Greystar will implement its proven management approach and best practices for the Brazilian student housing portfolio.

The new portfolio consists of 1,900 beds across five properties. Four are located in central neighbourhoods of São Paulo near various universities, and the fifth is an on-campus property in Lajeado, Rio Grande do Sul. Greystar will handle all marketing, administration, and day-to-day operations. A dedicated team will comprehensively manage the student properties.

Viola pointed out similarities between multifamily and student housing business models. He stressed Greystar's commitment to flexible living and fostering community through professional, high-quality services. Carlos Balthazar is the CEO of CIX Capital. He expressed confidence that partnering with Greystar will maximise The Share Student Living Concept. The vision is to create living spaces that go beyond just student accommodations. The focus is on building complete living concepts and communities.

Greystar first entered Brazil's rental housing market in 2020. The company partnered with CPPIB, Cyrela, and SKR to develop, own and operate rental multifamily housing in São Paulo. In September 2023, Greystar and SKR launched Ayra Pinheiros, with 220 rental apartments. Two more Cyrela multifamily properties in Higienópolis and Pinheiros will open in 2024.

Vitor Costa is Greystar Brazil's Country Manager. He called this an exciting opportunity to strengthen their local market presence and relationships. The goal is for Greystar to become Brazil's premier rental housing company. Costa looks forward to potentially providing management services to other investors in Brazil.

With the five new student housing properties, Greystar will manage over 2,000 rental beds/units in Brazil, significantly increasing the company's footprint in the Brazilian real estate market. Due to this, students will have a home away from home with all the facilities and amenities. To learn more about student housing or related news, follow amber.