Tishman Speyer has finalised the acquisition of a student residence in Vienna's 3rd district. The property, located in the Erdberg district and completed in 2024, represents the first acquisition for the company's TS Plus Europe fund. This open-ended European core-plus fund focuses on investments in institutional-quality real estate in leading European metropolitan areas, with an initial emphasis on residential and commercial properties.
The property at Karl-Farkas-Gasse 14 boasts a living area of 13,483 square metres. In addition to the residential units, it includes a restaurant, a café, office spaces, and an underground car park with 32 parking spaces. The offering comprises 418 single rooms and 48 double rooms, designed for students and young professionals. Amenities include a 24-hour gym, a rooftop terrace, a communal kitchen, study rooms, a music room, a cinema, and bicycle parking.
Strategic Location and Sustainability
The property's location is strategically advantageous. It is within walking distance of the Vienna BioCenter, one of Europe's leading life science campuses, as well as the Erdberg underground station (U3) and Vienna St. Marx suburban rail station. Supermarkets, pharmacies, restaurants, and childcare facilities are available in the immediate vicinity. The building is fully electric and utilises groundwater heat pumps for heating and cooling, with energy distribution via concrete core activation. A photovoltaic system covers the entire roof, and the property is certified to the ÖGNI Gold sustainability standard.
Marc Pamin, Managing Director at Tishman Speyer, commented on the acquisition. He highlighted that Vienna's rising student numbers, combined with a limited supply of purpose-built student accommodation, make the property a compelling initial investment for TS Plus Europe. Pamin further emphasised that the high-quality and sustainable design, as well as its proximity to major university and life science institutions, ideally position the property to meet existing demand. Occupancy of the property is not exclusively limited to students but is also open to young professionals.
Vienna's Market Potential and Tishman Speyer's Global Strategy
For years, Vienna has established itself as one of the world's most liveable cities and, with approximately 198,000 students, is one of Europe's largest student metropolises. The city continues to attract a consistent number of national and international students. Based on current market data, Tishman Speyer anticipates that increasing enrolment figures and a limited supply of newly built student accommodation will sustainably support demand in this segment. The Austrian real estate firm EHL brokered the transaction.
This acquisition aligns with Tishman Speyer's comprehensive diversification strategy, which prioritises investments across a broader spectrum of asset classes and geographical regions. Since its first foray into the residential property sector in 1989, Tishman Speyer has acquired or developed approximately 30,000 rental and owner-occupied flats across four continents. Another 7,400 residential units are currently in the development pipeline. The TS Plus Europe fund has received capital commitments of approximately EUR 510 million, while the corresponding US fund, TS Plus, has recorded capital commitments of USD 1.08 billion and has built a portfolio of residential and commercial properties in the USA.
