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Student Accommodation investment platform to provide 5 144 beds for students by 2024

South African Student Accommodation Impact Investments, an investment platform managed by Eris Property Group, recently raised R400m to increase committed capital to over R1.2 billion.

Eris Property Group successfully raised an additional R400 million for its social impact student accommodation company – raising the total capital commitment to over R1.2bn. The platform, South African Student Accommodation Impact Investments (SASAII), is now able to initiate new projects that will provide beds for more than 12 000 students in tertiary institutions across the country.

When Eris Property Group investigated expanding its business into the student accommodation market, given the significant gaps there is, the group realised the development pipeline is substantial, and decided to serve it by raising much needed capital. Hence, SASAII was created to add more beds to boost supply.

Eris Property Group’s Executive Head of Investments and Fund Management, Vuyani Bekwa says, “By providing safe and accessible accommodation, we give students the opportunity to fulfil their potential as future leaders. That’s what this investment is all about and we couldn’t have done it without our partners. Our aim is to provide as many quality beds as possible.” 

Having closed on its commitment to the platform, Government Institutions Pension Fund of Namibia (GIPF) has joined a consortium of domestic and international investors including Momentum Metropolitan Life, Eskom Pension and Provident Fund, International Finance Corporation and the Danish Sustainable Development Goals Investment Fund.

With a total of over R1.2bn in capital committed to the cause, the investment platform has now been closed for now for further investments until the current committed capital has been deployed.

“We tendered for the allocation and because of the alignment between GIPF and its strong social impact bias, the investment into SASAII made a lot of sense, especially considering the platform’s compelling investment return profile and social outcomes,” says Bekwa.

Completed in November 2019, the platform’s first investment Units on Park in Hatfield, Pretoria was a 988-bed student accommodation property developed and managed by Eris Property Group. Performing strongly since its first intake in 2020, Units on Park is currently fully let in a well-catered-for market.

The new projects under construction are Units on Jorissen in Braamfontein, Johannesburg, which is targeting Wits University with 1,071 beds, and Units on Cape Station in Cape Town CBD which is targeting Cape Peninsula University of Technology and surrounding academic institutions with 3,085 beds. Both projects will be opening in the 2024 academic year. Bekwa says there is a strong pipeline of interesting projects in the works, to be rolled out as soon as the details have been finalised.

Bekwa says Eris’ dynamic approach to private student accommodation will endeavour to commit to projects that house a minimum of 75% of the beds at the NSFAS (National Student Financial Aid Scheme) rate, ensuring that students are receiving Wi-Fi, water, electricity, laundry as an all-inclusive rental over and above the norms and standards as prescribed by The Department of Higher Education and Training. All SASAII assets will qualify for globally recognised sustainable design certification and all buildings will achieve IFC Excellence in Design for Greater Efficiencies (EDGE) certification or a similar green building qualification, such as Leadership in Energy and Environmental Design (LEED).

The South African Student Accommodation Impact Investments platform will be converted into a Real Estate Investment Trust (REIT) at listing or when regulations allow, adding to the number of listed companies on the JSE. This liquidity event will ensure that early investors will be able to cash out some or even all of the equity they have pumped into the platform.

About SASAII

South African Student Accommodation Impact Investments (Pty) Ltd (SASAII) is a company formed to develop and operate affordable, purpose-built student accommodation (PBSA) in South Africa. SASAII is registered as a private limited liability company and managed by Eris Property Group, a leading property developer and real estate fund manager in SA.

Website: www.sasaii.com

About Eris Property Group

Eris Property Group (Eris) is a fully integrated property development, investment and services group which offers a range of commercial property skills in the South African and sub-Saharan African markets.

The full spectrum of property services Eris offers include: Property Development; Investments & Fund Management; Property Management; Leasing & Investment Brokering; Facilities Management; Asset Management; Retail Services; Corporate Real Estate Solutions, Student Accommodation and Property Valuations.

Website: www.eris.co.za, www.risestudentliving.co.za

Eris Property Group announces R1,5 billion re-development of the Cape Town Station Forecourt.

January 2022

Eris Property Group announces R1,5 Billion re-development of the Cape Town Station Forecourt.

Eris will develop a R1,5 billion development consisting of a Retail Centre and a 3 085-bed Student Accommodation facility at Cape Town Station, situated on the corners of Strand, Adderley and Old Marine Drive.

Eris Property Group, a leading property investor and developer in Southern Africa, has secured the forecourt of the Cape Town Station on a long-term lease from Passenger Rail Agency of South Africa (PRASA) and completely reimagined this landmark location into a vibrant new precinct spanning 2.4 hectares. The first phase of the development will provide 6,700m² of modern retail space, a 3,085-bed purpose-built student accommodation facility and a new world-class public square.

Henri de Wet, Development Manager at Eris Property Group, explains that there is a dire shortage of purpose-built student accommodation around the Cape Town City Centre, especially quality accommodation which is affordable and NSFAS (National Student Financial Aid Scheme) accredited. “The City Bowl and immediate surrounds plays host to more than 30,000 students enrolled at various tertiary education institutions, and this site has the unique advantage of not only being close to all of these institutions but also acting as the major public transport interchange in the City Centre for rail, buses and taxis. This development will be the largest single-phase purpose-built student accommodation facility in Africa and will offer students world class accommodation at an affordable price.”

The accommodation, which is located only 1km away from the Cape Peninsula University of Technology‘s District 6 Campus (CPUT), offers self-catering accommodation in the form of 4, 3 and 1 bedroom apartments. Amenities in the building include Fives football, Action basketball/netball, a gym, cinema, games rooms, study rooms, TV lounges, collaboration lounges, laundry facilities, computer rooms and urban gardens. The building forms part of Eris’s RISE Student Living brand which has positioned itself to be the leading student accommodation provider in South Africa.

The retail portion of the precinct, named Cape Station, will be anchored by a 1,600m² Spar and Tops and a 600m² Clicks, with various other national tenants secured to ensure that the local community will have their every retail need met under one roof.

The development will also include a new world-class public square to serve as a landscaped urban garden with artwork and seating to encourage tourist engagement and dwell time.

Dacre Hattingh, Development Manager at Eris, comments that “construction of the 28-month development project started in August and is set for completion in November 2023, ready for student intake in January 2024.”

Hattingh comments that Eris is incredibly proud to have been entrusted by PRASA with this landmark site in the Cape Town City Centre and that through successful public-private partnerships value can successfully be unlocked for state-owned entities and South Africans alike.

For any retail leasing enquiries please contact Bianca Abrahams on 011 775 1000.

EPG’s Latest Project: The largest single phase student development accommodation in SA

November 2021

The team at Eris Property Group has two staggering builds currently underway that will have a positive impact on student accommodation in the country – a property sector that is in dire need of help. The first is Units on Jorissen Street in Braamfontein that holds 998 beds – the intake target is January 2024 – and Cape Town Station, with upwards of 3 000 beds. The latter is the largest single phase student development accommodation in South Africa.

The reason for these impressive builds is simple. “During Level 5 lockdown last year, although there were no face-to-face classes, our current student accommodation, Units on Park in Pretoria, was well occupied with 60% of students deciding to come back to their student accommodation,” says Johan Janse van Vuuren, Executive Head of Student Accommodation at Eris. “It made an enormous difference to students, as they knew that they would be in a safe environment, with constant access to Wi-Fi and electricity, so that they could continue uninterrupted with their studies – which would not necessarily have been the case if they had stayed at home,” he adds.

Interestingly, although the principle of every student accommodation build by Eris is the same – affordable student accommodation, run by an impressive tech-driven property management system, which follows green design principles – the priorities for students differ between cities. “In Johannesburg, students want their own lockable room, but are willing to share amenities and live in clusters. In Jorrisen Street, the majority of the apartments are 6- 8- and 9-bedroom clusters with shared kitchen and bathroom facilities. In Cape Town, however, students are looking for 3- and 4- bedroom clusters and studio units,” says Thalita Ramusi, Development Manager at Eris. However, all of the amenities at student accommodation properties are standardised.

Amenities at every Eris student accommodation includes:

• Study area/ Meeting rooms
• Computer Labs
• Study tables, Chairs and Whiteboard
• Lounge/ TV room
• Games Room
• Gym
• Green Breakaway Areas
• TV and Furniture
• Braai Areas
• Washing Machines
• Tumble Dryers

No matter which city students live in, the student accommodation rates are extremely affordable. Around 75% of the rentals in the Eris student accommodation portfolio are within the specified price range, which is set out by the National Student Financial Aid Scheme (NSFAS), with the aim to have all-inclusive rentals that have no additional costs for electricity, water, Wi-Fi and laundry.

Best of all, from start to finish, the entire process is streamlined, before students even enter the building,” says Nape Bambo, an Graduate Intern at Eris. Students simply log onto the website and if they like what they see, they can choose to see the accommodation in person or apply immediately. When they apply online, they simply fill out all the info and explain which room they want. Upon approval, they pay a small admin fee, and the room is ready for them. “The entire process takes less than 45 minutes,” he says.

Johan adds: “We had to adapt the Eris system to speak to students in their own language, so that everything was online.” Besides the student signing up, the entire building is managed and monitored electronically. The Eris team can tell at the click of a button if there is excess usage of WI-FI, electricity or water. “We have integrated this into the Eris property management system, so every Eris student accommodation building is much more technologically advanced than traditional buildings. Our online management system is the most comprehensive online property management system in the country,” he says.

Another strict non-negotiable for student accommodation for the Eris team is adopting and adhering to green principles and designs. There is a minimum green requirement – an EDGE Certification – that is needed for all of our student accommodation. “The UCT Student Residence ― Avenue Road in Cape Town ― a year ago was the first 4-star green rated certified building in student accommodation in the country, which has really set the bar high for future developments. The Eris team was integral in setting up the criteria for future green developments with the Green Building Council of South Africa (GBCSA),” explains Johan.

All Eris student accommodation uses these green principles:

• Motion light sensors in all the common areas
• LED lightbulbs to save power
• Power efficient heat pumps
• Solar and gas is always considered as a first option
• Dual flush mechanisms on the toilets to save water
• Water storage tanks are optimally set
• Grey water harvesting (if the building allows for it)
• Breeze blocks on the balconies require no mechanical ventilation
• Specialised ACC blocks (a mix of Styrofoam and cement blocks) help to lighten the overall structure and make it more environmentally friendly (and sound proof)

Fortunately, regardless of the area, students from any tertiary institution in the specific areas can apply to stay at Eris’s student accommodation. There is also the option for universities to take out a head lease and have a certain block or section of the development allocated to students from that specific university.

Eris’s current development, Units on Park, is currently accepting student applications for 2022 and Units on Jorisson Street and Cape Town Station will be ready for applications in 2024.

Visit https://www.eris.co.za/student-accommodation/ https://www.risestudentliving.com/ to apply.

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Eris’ SASAII raises R865million in capital

October 2021

Eris Property Group is excited to announce that it has successfully raised `an additional R365 million for its social impact student accommodation company from a stellar consortium of domestic and international investors including Momentum Metropolitan Life, Eskom Pension and Provident Fund, International Finance Corporation and the Danish Sustainable Development Goals Investment Fund, managed by IFU. Several other investors have also expressed an interest to participate and are at various levels of obtaining approvals, however the company is still targeting raising up to R2 billion.

“Eris has been leveraging on its existing skills within property developments and management to alleviate the need for student accommodation shortages in SA. Our RISE Student Living property management service is completely tech-driven, whereby the entire leasing process, encompassing every stakeholder involved, happens digitally”, says Johan van Vuuren, Executive Head – Student Accommodation.

The platform’s first investment Units on Park, Hatfield, a 988-bed student accommodation property developed and managed by Eris Property Group was completed in November 2019, is performing well since its first intake in 2020. Eris’s dynamic approach to private student accommodation will endeavour to commit to projects that house a minimum of 70% of the beds at the NSFAS (National Student Financial Aid Scheme) rates or below, ensuring that students are receiving Wi-Fi, water, electricity, laundry as an all-inclusive rental. The company’s new projects that are underway are Units on Jorissen, Braamfontein, which is targeting Wits University with 998 beds. (potential to increase this to 1071, subject to council approval), and Units on Station Square, Cape Town CBD which is targeting Cape Peninsula University of Technology and surrounding academic institutions, with 3085 beds.

“We have had great success attracting international investors because of the platform’s compelling investment return profile and would therefore like to receive more support from local investors” says Vuyani Bekwa, Eris Property Group’s Executive Head of Investments and Fund Management, “With the four international and local investors, another two or three substantial local investors will complete the picture. Though our minimum investment amount is R50 million, the minimum that we have received so far is R150 million per investor. The platform is targeting a minimum IRR of 16% after fees and taxes.”

The company is structured so that fees are only applicable to drawn capital during the deployment period, rather than all capital committed, ensuring that investors receive value for any fees charged by the manager,” says Bekwa. “The intention is to add to the number of beds available in the market, and not to acquire existing projects, however that will be dependent on the ability to deploy the funds, which we have been working on for the past three years.”

“Our investment in Units on Park forms part of our responsible investing initiatives which provide quality, purpose-built student accommodation. This investment fully demonstrates the tangible effect our investments can have on real people and their lives.” says Sonja Saunderson, Momentum Alternative Investments’ Chief Investment Officer.”

The platform will be converted into a REIT at listing or when regulations allow, adding to the number of listed companies on the JSE. This liquidity event releases any capital that these investors would have pumped into the platform.

IFC and Eris Partner to Support Affordable Student Housing in South Africa

May 2021

Johannesburg, South Africa, May 11, 2021-To boost the development of affordable, quality, and resource-efficient student accommodation in South Africa, especially for low-income students, IFC today announced financing for a new investment platform managed by South Africa’s Eris Property Group.

IFC’s 150 million rand ($10 million) equity investment in Eris’s South African Student Accommodation Impact Investments Proprietary Limited platform will help Eris develop and operate accommodation for up to 15,000 students over the next five years, helping meet soaring demand.

IFC has also committed to helping Eris, a leading property developer and real estate fund manager, raise additional funds for student accommodation from other parties.

“We are excited to welcome IFC as a core investor in our student accommodation platform. Eris has developed a high-quality product at an affordable rental level and we look forward to executing on our substantial pipeline,” said Johan van Vuuren, Executive Head: Student Accommodation at Eris.

“The business case for the investor is clear – a market related return on capital with a measurable positive impact on South Africa’s education needs. IFC’s support has advanced our aspirations to fully subscribe our target 2 billion rand capital raise, which is now within reach,” said Vuyani Bekwa, Executive Head: Fund Management at Eris.

“By helping to address the acute shortage of affordable student accommodation in South Africa this investment will improve student proximity to universities and colleges, improve student safety, and provide a more conducive learning environment,” said Adamou Labara, IFC’s Country Manager for South Arica.

Since 1994, South Africa’s tertiary student enrollment has more than doubled, far outpacing the supply of affordable and high-quality student accommodation. IFC’s Student Housing Landscape in South Africa assessment estimates a shortage of about 500,000 beds for students at universities and vocational training schools in the country.

With IFC’s support, Eris plans to develop a portfolio of student accommodation in South Africa of between 10,000 to 15,000 beds over the next five years. Eris’s entire portfolio will be certified as “green” under EDGE, an IFC innovation that makes it easy to design and certify resource-efficient and zero carbon buildings.

Despite COVID-19, which has led some schools to adopt a hybrid of online and in-person learning, it is expected that demand for affordable accommodation will remain high.

About IFC

IFC-a member of the World Bank Group-is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2020, we invested $22 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org.

Impact investment fund to help overcome student accommodation shortfall in SA

December 2019

Impact investing is a trendy term globally at present, and for good reason. Investopedia defines impact investing as aiming “to generate specific beneficial social or environmental effects in addition to financial gains. Impact investments may take the form of numerous asset classes and may result in many specific outcomes. The point of impact investing is to use money and investment capital for positive social results.”

Essentially, then, impact investment is a double win. According to the Africa Impact Report 2019, created by the Public Investment Corporation (PIC) and Impact Investing SA, impact investment is an attractive investment vehicle for the African continent. It can help to overcome significant challenges, including addressing poverty, climate change, inclusivity, poor levels of education and health, financial inclusion, hunger and sustainable agriculture, among others. A report titled The Landscape for Impact Investing in Southern Africa by the Global Impact Investing Network (GIIN) points out that South Africa is the largest market for impact investing within the southern African region.

The time is ripe for impact investment across several sectors, and Eris Property Group is hoping to attract investors to the Momentum Student Accommodation Impact Fund to help deliver quality student housing in South Africa to fulfil the need for this form of social infrastructure.

“The Department of Higher Education and Training estimates there is a student accommodation shortfall of approximately 250 000 beds,” says Vuyani Bekwa, Head of Investments and Fund Management at Eris Property Group. “That figure does not include the additional students in the Technical and Vocational Training (TVET) systems. Government also intends to increase tertiary enrolments to 1.5 million students by 2030, and student housing will need to scale to achieve that target. The Momentum Student Accommodation Impact Fund is a way for investors to realise a financial return while contributing to social solutions that will benefit South Africa’s youth as they seek to attain an education.”

Bekwa says the fund is targeting R2 billion in raised equity capital and has secured several commitments to date. The minimum investment amount is R50 million, and the fund is hoping to attract the attention of fund managers and pension funds, or those investors with long-term investment horizons.

“Eris Property Group looked into expanding our business into the student accommodation market, given the significant gaps there, but we’ve realised that the development pipeline is substantial, and to serve it, we needed to raise more capital. That’s where the idea for the fund started,” he says. “We didn’t want to buy existing beds and developments, but to add more beds to boost supply. That’s why this is a development fund.”

Eris Property Group is the development partner. The company’s extensive development experience enables it to underwrite the capital outlay for the fund, as well as the delivery times, which are critical in student housing. “If you miss your delivery date on a student development, you miss the intake, and thus the income for that semester or even year,” explains Bekwa. “The fact that we take on the development risk means that investors don’t have to, but they still enjoy not only a financial return on the investment they make, but also the delivery of the development, which is an asset in its own right.”

Another upside for investors is that the fund is structured so that fees are only applicable to drawn capital, rather than all capital committed (which is how traditional private equity funds work). “We are also up to date with the standards and requirements of the Department of Education and all our developments will comply with these, ensuring investors are guaranteed peace of mind in terms of quality assurance,” says Bekwa. “We are targeting a 14% internal rate of return after tax (CPI plus 8%), so we believe our investment proposition is very attractive over the long term and will list it on a stock exchange at the appropriate time.”

The first Eris student accommodation development, Units on Park, aimed at University of Pretoria students, will launch on 5 December 2019. The development offers 52 bachelor units, 26 two-bedroom units (single bed in each room), and 221 two-bedroom units (two single beds in each room).

For more information on Eris Property Group’s student accommodation portfolio or the Momentum Student Accommodation Impact Fund, contact Vuyani Bekwa on vbekwa@eris.co.za.

Eris Property Group raises initial R500m in funding

November 2019

Eris Property Group is excited to announce that it has successfully raised an initial R500 million for its social impact student accommodation company from a stellar consortium of domestic and international investors including Momentum Metropolitan Life and Eskom Pension and Provident Fund. Several other investors have also expressed an interest to participate and are at various levels of obtaining approvals, however the company is still capital raising.

Eris has been leveraging on its existing skills within property developments and management to alleviate the need for student accommodation shortages in SA, this culminated in the development of its sub-brand RISE Student Living. Our RISE Student Living property management service is completely tech-driven, whereby the entire leasing process, encompassing every stakeholder involved, happens digitally.

The investment vehicle’s first investment was Units on Park, Hatfield, a 988-bed student accommodation property developed and managed by Eris Property Group. This transaction marks the first of a pipeline of assets currently under consideration for development and inclusion. Units on Park was completed on 1 November 2019 ready for the first intake of students in January 2020. The company is considering various projects with the objective of aggregating a quality portfolio of prime assets in select cities across South Africa.

Eris’s dynamic approach to private student accommodation will endeavour to commit to projects that house a minimum of 70% of the beds at the NSFAS (National Student Financial Aid Scheme) rates or below, ensuring that students are receiving Wi-Fi, water, electricity, as an all-inclusive rental.

The company’s development projects will offer a home for future generations of students and incorporate environmentally responsible principles, using green technologies during its design and development process, as guided by the green building principles. We are proud to have been a part of setting the benchmark and being the development partner for SA’s first university residence that received a 4-star, Green Star rating from the Green Building Council of South Africa (GBCSA) for the University of Cape Town (UCT) residence.

“Our intention is to seek further capital in the next 12 months as we have a number of exciting opportunities for the company” says Vuyani Bekwa, Eris Property Group’s Executive Head of Investments and Fund Management, “The minimum investment amount is R50 million, and the investment vehicle is hoping to attract the attention of fund managers and pension funds, or those investors with long-term investment horizons.”

The company is expected to contribute to the significant shortage of quality student accommodation in South Africa, with the added benefits of job creation and additional work in the construction sector, which we regard as essential in these times.

The company is structured so that fees are only applicable to drawn capital, rather than all capital committed, ensuring that investors receive value for any fees charged by the manager,” says Bekwa. “The intention is to add to the number of beds available, and not to acquire existing projects, however that will be dependent on the ability to deploy the funds, which we have been working on for the past three years.”

Maximising opportunities in student accommodation in SA

September 2019

There is a shortage of student accommodation in South Africa, which means there is an opportunity to develop solutions for the sector. With the Department of Higher Education and Training estimating there is a student accommodation shortfall of approximately 250 000 beds, without accounting for students in Technical and Vocational Training (TVET) colleges, the need is substantial. Furthermore, student accommodation will need to scale rapidly to meet government’s intention of increasing tertiary enrolments to 1.5 million students by 2030.

Eris Property Group has therefore been exploring the student accommodation market and researching the local landscape over the past few years. The company has identified three key opportunities it hopes to capitalise on in the South African student accommodation space.

Johan Janse van Vuuren, Property Development Manager at Eris, says that although the company has not typically been involved in residential property development and management, the significant gaps in the student accommodation market warrant expanding the company’s offering. “While the South African market lags about three to five years behind global trends in student accommodation, there are opportunities for investors in student accommodation, for developers and for property managers,” he says. “Eris has plans to be active in all three of these areas.”

Momentum Property Opportunity Fund is a 50% investor, alongside WBHO, in the first development, Units on Park. Eris has also received substantial interest from investors in its Student Accommodation Impact Fund, which it will be launching soon to house the rest of the proposed development pipeline.

On the development front, Janse van Vuuren says that Eris has developed a new sub-brand, Rise Student Living, under which it will develop its student accommodation projects. “Our development philosophy embarks on providing accommodation that offers strategic choice of locations, coupled with cutting-edge design and exceptional build quality,” he says. “We have based this philosophy on six core elements: affordability, convenient locations, quality accommodation, safety and security, great student experiences and health and safety. All our student accommodation is also designed to meet minimum norms and the standards requirements of the Department of Higher Education.”

While Janse van Vuuren says that Eris has limited prior experience in developing student accommodation, two years has been dedicated to research and the company’s professional teams comprise experienced partners, who bring their track record and knowledge to the table. “They are helping us to navigate the nuances of student accommodation, such as having leases with hundreds of student tenants for 10 months of the year instead of three or four commercial tenants in a building over a five-year contract,” he says. “We’ve had to design different security protocols and common area amenities and grapple with the differences in cash-flow. The cash-flow on a student development is less sensitive to economic cycles than a commercial property, but less secure in other respects.”

The first development under the Rise Student Living brand is Units on Park, aimed at University of Pretoria students, which is currently accepting applications for occupancy in January 2020. The development offers 52 bachelor units, 26 rooms with a single bed, and 221 double rooms.

Thalitha Ramusi, Development Manager, says that the development, which is located just 200m from the Hatfield Gautrain Station and 600m from the closest campus entrance, is already garnering interest from students and parents alike. “We’ll have 998 beds available and our focus is on maximum student convenience at the best value possible,” she says. “We’re offering shared and single rooms, with wings on each floor of the development dedicated per gender, as well as recreational and academic facilities, free WiFi, kitchen facilities or canteen dining, depending on the option selected, laundry facilities, and 24/7 onsite management.”

Janse van Vuuren says that Eris is also fortunate to be partnering with a trusted co-investor, developer and contractor on the project in WBHO, which gives further credibility to the project.

He notes that Eris Property Group’s final arm of its student accommodation strategy is property management. “In other countries, we’ve seen that there are companies that just do student accommodation property management, whereas in South Africa, it’s only the accommodation developers that do property management, and only within their own facilities. We believe there’s an opportunity for a company like ours – which already has experience and access to economies of scale in property management services – to offer outsourced student accommodation property management to universities and property owners,” he says. “Again, student accommodation management has different sensitivities to our commercial management offering, but we are looking to get our foot into this sector and, as we learn, to grow our footprint in this space.”

For more information on Eris Property Group’s student accommodation portfolio or on Rise Student Living, visit www.eris.co.za/student-accommodation/.

Author: Eris Property Group