Commerz Real has acquired the Stoneybatter Place student accommodation in Dublin through its Institutional Smart Living Europe Fund. Harrison Street Asset Management acted as the seller, represented by Savills Ireland. The parties agreed not to disclose the terms of the transaction.
The property, which was completed in 2023, offers space for 142 residents. In addition to fully furnished rooms, the facilities include dedicated study and communal areas, a fitness room, and roof terraces. Operations at the facility will continue to be managed by Mezzino, a company specialising in student accommodation in Ireland and the UK. Mezzino already manages the Grangegorman House residential complex, also located in Dublin, which was acquired by the fund in 2025.
For the Commerzbank subsidiary specialising in real assets, the long-term positive fundamental data for the Dublin location were decisive for this investment. Forecasts from real estate consultant Savills in the 'Development Land Market Review' of 2025 indicate a significant excess demand in the student accommodation segment in the Irish capital, estimated at between 25,000 and 30,000 places.
In parallel, the responsible Department of Further and Higher Education, Research, Innovation and Science predicts a further increase in the total number of students in Ireland by 19 percent by 2034 in its latest 'Forecasts for Demand for Higher Education 2025 – 2045'. The acquisition of Stoneybatter Place is also strategically advantageous, as the residential complex is currently almost fully let.
The property is located in the district of Stoneybatter, an inner-city area west of Dublin city centre. This area has developed into a sought-after residential location in recent years. The campus of Technological University Dublin is within walking distance. Other university locations and the city centre are well connected by two tram lines and several bus services.
The open-ended special AIF Commerz Real Institutional Smart Living Europe Fund focuses on investments in student and micro-apartment complexes in European metropolitan areas and university cities. In addition to the two Dublin properties, the fund's portfolio currently comprises three other residential complexes located in Frankfurt am Main, Seville, and Vienna.
