France: UXCO Group, the Brookfield-backed operator of student and young professional living spaces in France, has acquired a development site next to its existing ECLA student asset.
It will build a further nine-story building to expand the ECLA campus. Once completed in September 2023, the new development will position ECLA as the largest private student residence in continental Europe with more than 1,800 beds.
The ECLA extension is located directly opposite ECLA’s existing campus, and will add an additional 11,500 square meters, bringing the ECLA campus to 48,000 square metres of living and communal spaces, with the two sites connected by an exclusive resident’s courtyard. Océanis, UXCO’s sister development company, will complete the development in partnership with Arte Charpentier Architectes.
Jacques-Edouard Charret, president of UXCO Group said: “We are excited to support ECLA’s expansion with the acquisition of the adjacent land plot, positioning it as the largest student living campus in Continental Europe. With a growing shortage of high-quality, hybrid and flexible student and young professional living spaces across France, we continue to have conviction in our “mega residence” model as part of an innovative solution and we look forward to expanding our activity in this space.”
UXCO Group, together with Oceanis and Appart’City, wholly owned by Grand M Group, have been acquiring, developing and operating residences in France for two decades. The group is owned by private real estate funds managed by Brookfield.
