US property group, Greystar has made its third big investment in Irish student accommodation over the past three years with a deal understood to be worth in the region of €37 million.Greystar, which specialises in property investment and management, announced on Thursday that it acquired the 216-bed property in Dublin’s Church Street, previously operated by the Liv group. It gave no details of the price paid but Liv had the property on its books last year at a “sale valuation” of €37 million as negotiations were ongoing and industry sources said it was understood that was close to the eventual price paid.It brings the company’s investment in Irish student accommodation to date close to €300 million. Greystar said the acquisition brings to 1,906 the number of rooms it operates across four properties in Ireland, making it one of the largest provides of purpose-built student accommodation in the State.The company made its first venture into the sector in Ireland in 2024 with the €150 million acquisition of 966-bed Point Campus in Dublin. The following year it paid €105 million for the Project Galaxy portfolio in Dublin and Galway, which together offer 724 beds.The latest deal was completed for Greystar’s Equity Partners Europe II fund, a pan-European residential fund which recently closed having secured investment of more than €2.7 billion.Liv, part of the US-based Valeo Groupe, specialises in student accommodation and operates properties in Ireland, Scotland, Spain and Portugal. It has operated the Church Street accommodation from its opening back in June 2018.The property is reported to have operated at or near full occupancy since it opened. Students pay around €300 a week, plus utility bills, for the rooms. Apart from student beds, it has a cinema, a gym, a study room, a café, a games room, outdoor space and a BBQ area.Greystar said the property would operate under its Canvas student accommodation brand which operates across seven European countries.“Church Street is an excellent addition to our portfolio and reflects our focus on well-located properties that offer residents a great place to live while studying in Dublin,” said Claire Solon, Greystar’s managing director, Ireland.The accommodation is less than 10 minutes from the city centre and, Greystars says, within walking distance of Trinity College Dublin and TU Dublin’s Bolton Street Campus and Grangegorman campuses. Trinity students currently represent the largest share of residents.“We are delighted to have completed the sale of Church Street to Greystar,” David Saunders, managing director at Valeo Management Europe, said. “The property has consistently performed strongly since opening, and this transaction represents an excellent outcome for Valeo and our investors.”“We see significant opportunities across both student accommodation and multifamily housing and, with substantial capital available for investment, remain committed to growing our presence in Ireland and providing the homes and accommodation people need,” Solon said.