US-headquartered real-estate group Greystar has made its fourth investment in Ireland’s purpose-built student accommodation (PBSA) sector, with the acquisition of Copley Court in Cork from Elkstone Real Estate. While the price paid for the 265-bed complex has not been disclosed, The Irish Times understands that Greystar paid about €33 million for the property. The figure equates to an average of €124,528 per bed space.News of the deal comes just two months after Greystar completed its purchase for €37 million of a 216-bed student accommodation scheme on Church Street in Dublin from the Jersey-based investment firm Valeo Groupe Europe. That transaction followed on from Greystar’s acquisition for €105 million of the 724-bed Project Galaxy portfolio in Dublin and Galway last year and its €150 million deal for the 966-bed Point Campus in Dublin in 2024. Greystar’s student-accommodation portfolio comprises a total of 2,171 beds following its latest acquisition, making it one of the largest owner-operators of student accommodation in Ireland.[ Greystar buys 216-bed Dublin student block in €37m dealOpens in new window ]The Copley Court transaction was completed on behalf of Greystar Equity Partners Europe II (GEPE II), Greystar’s recently closed pan-European value-add residential fund.Claire Solon, managing director of Greystar in Ireland, said: “Copley Court is a strong addition to our Irish student accommodation platform, and a clear signal of the capital we now have available to deploy following the final close of the GEPE II fund. Cork continues to see rising demand for high quality, well-managed student housing, and this acquisition reflects our confidence in the city’s long-term fundamentals.” [ Greystar buys 700-bed student accommodation in Dublin and Galway for €105mOpens in new window ]Since being relaunched in 2019, Copley Court has operated at or near full occupancy. It will now operate under Canvas Student, Greystar’s pan-European student accommodation brand. The property, which is located close to Cork’s City Hall and about 3km from UCC’s main campus comprises 265 beds along with a range of amenities including a gym, private and group study spaces and a student lounge/games area.